Mansfield Building Society lowers rates on high LTV mortgages

The Mansfield Building Society has introduced new and reduced rates for three-year discounted rate mortgages at the higher loan-to-value ratios.

The rates on the 80 per cent, 85 per cent and 90 per cent LTV mortgages are 2.90 per cent, 3.45 per cent and 4.09 per cent respectively.

Application and completion fees are £998 up to 80 per cent LTV, £999 up to 85 per cent LTV and £599 up to 90 per cent LTV.

Mansfield chief executive Gev Lynott says: “We do our utmost to help all borrowers with a range of solutions for first and second time buyers as well as those looking to remortgage. These new products have been priced to ensure that the initial payable rate is lower than the rate charged on our equivalent fixed rate product, so they will prove attractive to borrowers who are keen to keep initial costs to a minimum.

“Strict tranche limits apply so borrowers need to act quickly to avoid disappointment.”