The Mansfield launches new simplified buy-to-let range
Mansfield Building Society has reduced rates and simplified its buy-to-let mortgage range with four new products, all accepting applications for standard, consumer and limited company buy-to-let with a personal guarantee.
"We have become increasingly used to certain lending types, and can therefore be more accommodating in how we price limited company with a personal guarantee, consumer and standard buy-to-let lending."
The move standardises rates across all three areas of buy-to-let with the lender.
The new products, available up to 75% LTV, offer a two or three year term on an initial fixed or discounted rate and include a three-year discount at 2.29% variable.
The Society’s existing specialist product range for family buy-to-let, expat buy-to-let, holiday let and limited company buy-to-let without a personal guarantee remain available.
Intermediary sales manager, Tom Molloy, said: “As a lender with an individual underwriting approach, we embrace diverse circumstances as much as possible. We have become increasingly used to certain lending types, and can therefore be more accommodating in how we price limited company with a personal guarantee, consumer and standard buy-to-let lending.
"This particularly means that our lending for SPV limited companies has become more competitive and we’re keen to grow our business and reputation in this area. For brokers with these types of buy to let clients, our individual approach can make a real difference in enabling them get on with their property plans, whether it’s a standalone new venture, expanding or even upgrading an existing portfolio.”
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