Mansfield launches specialist regulated or light refurb BTL

The new 3 year discounted product will be particularly welcome to brokers who have little product choice in these specialist markets. Key features of the product includen a 3 year discount of 1.1% below SVR (currently 4.49%) at a max LTV of 70% for regulated and light refurb. For ex-pats, who must complete before February 2016, the maximum LTV is 65%. Application fee is £199 and completion fee is £1300. The minimum loan amount is £50,000 and goes up to a maximum of £300,000.

Commenting on the new product, Stuart Bryce, Business Development Manager at The Mansfield said:

“This is a product which has been particularly popular with brokers in the past. As our introducers are aware, we already have an enviable reputation for our individual underwriting expertise. This is another example of identifying and assisting those sectors of the market that can benefit from our fair-minded approach of assessing each client on their own merits.”

“Our full mortgage range to intermediaries caters for a broad cross section of borrowers including those with retirement incomes, clients on interest only mortgages, and with this particular product, BTL borrowers with more complex needs. We are confident that our introducers will be delighted to see this commitment to regulated, light refurbishment and Ex-Pat landlords.”