Mansfield Building Society

Mansfield Building Society enhances BTL lending criteria

Mansfield Building Society has made changes to its BTL criteria.

The company has increased the maximum LTV for selected BTL products from 75% to 80%.

In addition, it has reduced the minimum age for applicants to 21 and can now accept first-time landlords. 

If the applicant is not a first-time landlord, the lender can now also accept gifted deposits.

Tom Denman-Molloy, intermediary sales manager at Mansfield Building Society (pictured above), said: “These changes highlight our increasing lending appetite. 

“Mansfield Building Society takes an individual approach to underwriting and we embrace diverse circumstances as much as possible. 

“These enhancements to criteria and an increase in maximum LTV for BTL mean we will consider even more applications and help brokers find solutions for their clients with our versatile lending approach.

“We anticipate increased demand for our products following these changes and brokers can expect further updates to our offering over the coming weeks.”

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