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Mansfield’s 2015 completions hit record £70m

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Mansfield Building Society’s 2015 mortgage completions were £70m, up 35 per cent from £52m the year before.

Mansfield chief executive Gev Lynott says the rise is due to ‘common-sense’ underwriting and targeting underserved parts of the market.

He says: “While automated credit scoring systems may enable some lenders to cut their operating costs, lenders like the Mansfield recognise that in the real world, this kind of strategy has alienated some perfectly responsible homeowners, prospective buyers and property investors that don’t conform to this tick-box mentality.”

Mansfield Building Society launched a buy-to-let option for expatriate landlords last year, as well as an interest-only product for those moving to smaller homes.

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