Mansfield Building Society

Mansfield revises BTL range

Mansfield Building Society has revamped its BTL range with four new products.

The new options, available for standard, consumer and limited company BTL with a personal guarantee, were introduced to standardise the lender’s rates across these three lending areas.

The products offer loans up to £500,000 at maximum 75% LTV on two- or three-year terms on an initial fixed or discounted rate — this includes a three-year discounted option with a variable rate of 2.29%.

The society’s existing specialist product range for family, expat BTL, holiday let and limited company BTL without a personal guarantee remain available.

Tom Molloy, intermediary sales manager at Mansfield Building Society (pictured above), 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 BTL 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 BTL 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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