The Mansfield launches new “fee light” 2 year fixed at 1.75%
21 April 2017
Mansfield Building Society has launched a new 2 year fixed rate up to 80% LTV at 1.75%, available for house purchase or remortgage on residential properties throughout England and Wales.
The product is available on a capital repayment or interest only basis. Capital repayment (and part and part) is available up to 80% LTV subject to repayment by age 70, with interest only available up to 75% LTV. Lending beyond age 70 is also available subject to LTV restrictions.
Features of the product include:
- 2 year fixed rate at 1.75%
- Up to 80% LTV with max loan size £400k
- Up to 75% LTV with max loan size £500k
- £199 application fee
- No completion fee
- Free basic valuation
- Free legal fees for remortgage
National Development Manager, Steve Walton, said that he was delighted with the Society’s strong start to 2017 with a record month for mortgage completions in March. However, Walton went on to say that the Society would not be complacent and the launch of the new 2 year fixed rate demonstrates The Mansfield’s ambition for the year ahead:
“Brokers are becoming increasingly aware of how our common sense and pragmatic approach to lending can help support their client’s needs - particularly self-employed, interest only borrowers, and people in or fast approaching retirement.
Whilst we’ve got off to a great start this year, we’re still keen to expand our current product range and by including a product with low fees and the benefit of a free valuation and free legal fees for remortgages, our success is certain to continue. We expect this product to be well received as we approach the traditional house buying season but also, given the increased popularity for remortgaging at the moment, we feel this product is a great choice for those looking to switch provider too.”
