The Mansfield Building Society has unveiled a five-year fixed rate mortgage at 4.25% with no completion fee on loans up to 95% LTV.
The latest launch includes house purchase products up to 95% LTV with remortgages also available on mortgages up to 90% LTV.
In addition to the five-year fixed rate, the Mansfield has introduced a range of two and three-year products with completion fees starting from £300.
All products come with a free basic valuation and free legal fees are available for those remortgaging.
The new products include:
- Five-year fixed rate at 4.25% up to 95% LTV (house purchase only)
- Three-year discounted rate at 3.49% variable up to 95% LTV (house purchase only)
- Two-year fixed rate at 2.89% up to 90% LTV
- Two-year discounted rate at 2.69% variable at 80-90% LTV
- Two-year discounted rate at 2.15% variable up to 80% LTV
Early repayment charges are 2% on two-year products, and 3% on three and five-year products, with all mortgages carrying an application fee of £199.
Steve Walton, national development manager, at the Mansfield, said: “Brokers have told us that they appreciate our common sense approach to underwriting and our flexible lending criteria. They also tell us that our service is pretty good too. So, if we’re right, our exciting new products should be extremely well received and we’re expecting demand to be high.
“With house prices remaining heavily influenced by supply and demand, we haven’t lost sight of those existing home owners looking to refinance onto preferential terms, and our products have been priced with their needs in mind.
“This is another step towards offering a product range that, when combined with our pragmatic approach, can make a real difference for brokers and their clients.”