The Mansfield launches new 3 year fixed rate at 95% loan to value

28 September 2016

Mansfield Building Society have launched a 3 year fixed rate mortgage up to 95% loan to value to support both first and second time home buyers.

The product compliments the existing range of high loan to value (LTV) mortgages available from The Mansfield, with the Society already offering a market-leading 2 year discounted rate and a 5 year fixed rate mortgage to 95% LTV.

Details of the new 3 year fixed rate mortgage include:

•    Up to 95% loan to value
•    Fixed rate of 3.95% for the first three years
•    House purchase only
•    Capital repayment only
•    No application or completion fee
•    Free basic valuation

Steve Walton, National Development Manager for the Society, said the latest product was a response to offer more choice to first time buyers and the high loan to value purchase sector.

He said, “Figures from Moneyfacts in August suggest that product availability at 95% loan to value has dwindled. We are committed to supporting affordability for first time buyers, not only by offering competitive 2, 3 and 5 year terms but also through our commonsense individual underwriting approach.

We think it’s important that customers have good quality options and we’re very excited by our range of products to 95% LTV, particularly as this new product which has no upfront fees. We believe that with this latest edition, brokers and their clients will have a much needed boost from a can-do lender.”