Mansfield Building Society has reduced rates on its prime discounted variable-rate mortgage products and across key loan-to-value (LTV) tiers.
The newly updated two-year discounted variable-rate products are available for both purchase and remortgage with rates being cut by up to 0.6%.
Those requiring higher LTV options, such as 80% – 90%, can now benefit from a reduced rate of 5.39% variable, compared to the previous 6%. House purchase borrowers with LTVs of 90% – 95%, will see rates reduced to 5.79% variable, down from 6.40% previously.
For loans up to 80% LTV borrowers can now access an initial rate of 5.10% variable (down from 5.65%). The society’s residential product for larger loans, available up to 75% LTV, is down from 5.28% to 4.99% variable for the first two years.
Commenting on the rate cuts Mansfield Building Society intermediary sales manager Tom Denman-Molloy said: “Our reduced range of discounted rate mortgage products offer brokers the opportunity to present their clients with more affordable options on a variable rate.
“Alongside these rate reductions, brokers and their clients can still access our accommodating prime criteria, including debt consolidation up to 85% LTV, lending up to age 85 and a common sense, no credit scoring approach.”
