Clever Lending appoint Mansfield Building Society to first charge panel

29 September 2016

The master broker Clever Lending, has appointed Mansfield Building Society to its first charge lender panel.

This new lender appointment launches the Society’s Complex Prime mortgage products, with 2 year discount rates currently starting from 3.44% variable with no early repayment charge overhang.

The building society assesses applications on an individual basis with no automated credit scoring and their complex criteria accounts for a range of income, employment, credit history, and purchase situations that are outside the normal parameters.

Clever Lending MD, Sam Kirtikar, said he was delighted with the addition of Mansfield BS to its lender panel. “We now have another lender which believes in individual underwriting and assessment of a client’s situation and circumstances. The Mansfield has a proven track record of offering a pragmatic, manual underwriting approach which fits in perfectly with our lender model. We are noticing more and more brokers contacting us with cases that have been declined by the high street lender’s credit score decisioning systems. It’s therefore good to see lenders come to market having thought about criteria gaps and providing solutions for clients where technically the computer says no!”

The building society offers loans on its complex criteria of up to £300,000 at 80% LTV or £400,000 at 70% LTV, with sensible mortgage valuation fees and an option for remortgage clients to benefit from using the Society’s nominated legal adviser.

Mansfield Building Society National Development Manager, Steve Walton, said he looked forward to working with Clever Lending: “Our approach at Mansfield Building Society is built on treating each client as an individual, which means our underwriters take the trouble to assess applications in a way that gives a common sense view of a customer’s circumstances. Clever Lending’s culture and drive to support advisers is very much aligned to our own.”