The Mansfield Building Society has launched three new variable-rate products in the Buy to Let (BTL) sector at up to 70 per cent loan to value.
1. Buy-to-let purchase only
- 2.65 per cent discounted rate for 2 years (2.94 per cent below SVR)
- Free basic valuation
- Application fee £199 and completion fee £999
There are two remortgage options with different rates and fees to give landlords the opportunity to assess what best fits their needs.
2. Buy-to-let remortgage with lower rate and higher completion fee
- 2.65 per cent discounted rate for 2 years (2.94 per cent below The Mansfield’s standard variable rate)
- Application fee £199 and completion fee £1,300
3. Buy-to-let remortgage with higher rate and lower completion fee
- 2.99 per cent discounted rate for 2 years (2.60 per cent below standard variable rate)
- Application fee £199 and completion fee of £300
Customers will also have the benefit from free legal fees as well as a free basic valuation on both remortgage products.
According to business development manager, Stuart Bryce, The Mansfield is ensuring that its buy-to-let products remain at the forefront of discounted rate pricing.
Bryce comments: “The three new mortgages are very competitively priced and aimed at being a market leading discounted rate product to offer a viable alternative to fixed rates.
“Brokers and customers are understandably cautious about potential rate rises, discounted variable rate products are linked to lenders Standard Variable Rate (SVR) and do not directly track the Bank of England Base Rate.
“At The Mansfield, we remain committed to providing a very attractive range of products in this important market.”
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