The Mansfield expands specialist lending offering

Versatility was launched last year to deal with more complex circumstances, such as self-employed borrowers and contractors with limited income history or unusual property types.

The Mansfield says Versatility now offers "a more sympathetic view on historic credit difficulties" as well as a general simplification of products and criteria.

The eight new exclusive products are spread across four tiers of lending complexity with each tier offering both a fixed rate and a discounted variable rate option.

Head of products and savings at The Mansfield, Mike Taylor, said: “By simplifying and expanding our criteria and adding more pricing options, we’re increasing the range of solutions available to meet clients’ real life mortgage needs, providing brokers and their clients far greater choice.

"Our latest development shows how committed we are to maintaining a personal and pragmatic approach to mortgage lending and we’re looking forward to working with L&G in order to help inform brokers of the product enhancements.”

Danny Belton, head of lender relationships at Legal & General, added: “We’re delighted that The Mansfield has chosen Legal & General Mortgage Club to be one of the first to market its new Versatility range, this is a real boost for our brokers. Regional building societies are well-renowned for supporting the wider mortgage market and this move from The Mansfield shows how they are supporting brokers and helping them meet their clients’ needs.

"We’re looking forward to working with The Mansfield and we’re confident that the new range will be well received.”