Mansfield BS enters Scottish buy-to-let market

Mansfield Building Society has announced its launch into the Scottish buy-to-let market.

The move will see the lender roll out its existing buy-to-let, consumer buy-to-let and regulated family buy-to-let products to Scottish borrowers, with some postcode restrictions in place for the Scottish islands.

Borrowing is available with loan sizes ranging between £50,000 and £1 million as well as a maximum 75% LTV available across all its buy-to-let products.

Whilst expat buy-to-let is also included, the Society’s SPV limited company buy-to-let and holiday let lending is excluded.

Portfolio landlords with a maximum of up to 10 buy-to-let mortgages/properties with other lenders will also be considered.

Mansfield’s launch into the Scottish buy-to-let market follows the Society’s recent criteria enhancements which now includes flats in properties of up to 10 storeys.

Tom Denman-Molloy, intermediary sales manager at The Mansfield, commented: “Mansfield’s launch into the Scottish buy-to-let market enables us to expand our reach and offering to include Scottish landlords who now have access to our flexible and personal lending solutions.

"Whether it’s our incredibly popular family buy-to-let lending or supporting portfolio landlords with affordability through top slicing, we’re looking to add an extra dimension to buy-to-let in Scotland.”