The Mansfield lowers mortgage rates

The Mansfield Building Society has reduced the rates on two of its most popular mortgages.

The rate on its two year fixed rate mortgage has dropped to 4.5%, while its three year fixed rate mortgage has been reduced to 4.7%, both with immediate effect.

The overall cost for comparison is 6.3% APR and 6.2% APR respectively.

Both mortgages have a low arrangement fee of just 250 and borrowers can repay up to 10% of the agreed advance each year of the mortgage without incurring an early repayment penalty.