The Mansfield Building Society has revamped its range of shared ownership products to meet increasing demand and to offer more choice.
With rising house prices making it difficult for people to get on the housing ladder in certain areas of the UK, shared ownership is becoming an important option for customers.
That’s why The Mansfield is offering three new products:
1. A two-year discounted product up to 90 per cent of the share being purchased, at a 3.99 per cent initial rate (1.6 per cent discount from SVR of 5.59 per cent) at up to 75 per cent of the property value
2. A two-year discounted product up to 95 per cent of the share being purchased, at a 4.49 per cent initial rate (1.1 per cent discount from SVR) up to 60 per cent of the value
3. A two-year fixed rate product up to 90 per cent of the share being purchased, at a 4.99 per cent fixed rate for the first two years, then moving to SVR, at up to 75 per cent of the value.
All three products come with a valuation fee refund up to £400, a £199 application fee and no completion fee.
Mike Taylor, product and marketing manager at The Mansfield, says the new range reflects the Society’s growing reputation in meeting the needs of niche sectors.
“We have put a lot of work into shared ownership, and demand is growing as a result of our individual underwriting service. In response, we have introduced more variety through our new discounted rate products and have ensured the new products are available on a two year term in light of the feedback we’ve received.
“With a refunded valuation and no completion fee, our products are supporting this sector by offering access to competitive funding options.”
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