Mansfield Building Society has launched three new mortgage rates fixed until 30 September 2031, providing borrowers with greater long-term certainty and a lower affordability hurdle.
The three products include:
- House Purchase, 90-95% LTV: 5.99%
- Credit Repair, max 75% LTV: 6.75%
- Ltd Co BTL, max 75% LTV: 5.75%
Borrowers will be able to access Mansfield’s flexible approach to lending and accommodating criteria for those with complex incomes or credit blips.
The move follows recent data from UK Finance that shows mortgage affordability is at its tightest since 2008 with borrowers spending a fifth of their income on repayments.
Head of Sales, Tom Denman-Molloy, said that the Society was providing certainty for borrowers in uncertain times:
“With future inflation uncertain, we want to provide confidence to borrowers considering their mortgage options and, by offering longer term fixed rates, they would have more stability over their monthly mortgage repayments.
We’re hoping these new products can help brokers provide confidence and reassurance to clients with specialist or slightly unusual circumstances.”
