Mansfield Building Society has launched a new brand called Versatility for its range of specialist lending products.
According to the society’s bosses the brand has been launched to highlight the society’s lending criteria and flexible approach.
Lending areas within the Versatility range include family buy-to-let mortgages, self-employed and contractors home loans, interest-only options including for property downsizing as a repayment strategy, plus lending into and in retirement.
The lender also offers family assist mortgages, loans for property improvements and unusual property types.
Alongside the launch of the new brand Versatility will have a new product and criteria guide available for brokers to download from the society’s website.
We’ve launched Versatility because we want to shout about the ways we’re meeting these demands and highlight our expansive lending criteria.Steve WaltonMansfield’s national development manager, Steve Walton, said Versatility would help brokers and mortgage desks identify niche solutions more easily.
Mr Walton said: “Brokers have told us that they value our individual underwriting approach and that our lending criteria helps them meet the needs of a wide range of circumstances that they face when dealing with clients on a day to day basis.
“So, we’ve launched Versatility because we want to shout about the ways we’re meeting these demands and highlight our expansive lending criteria which continues to be developed to support real life situations.
“Our personal approach and pragmatic attitude means that we are now better placed than ever before to help brokers find appropriate solutions that meet the diverse needs of today’s borrowers.”
Robert Sinclair, chief executive of the Association of Mortgage Intermediaries, said the launch of Versatility from the Mansfield showed that the market continues to repair post credit crunch.
He said the launch also reflected the fact lenders now better understand the Mortgage Market Review and allow sensible criteria to be applied within affordability.
Mr Sinclair said: “The mutual sector continued to innovate in partnership with good brokers who can identify quality customers and place them appropriately.”
emma.hughes@ft.com
