Mansfield cuts rates on holiday mortgage products – Mortgage Finance Gazette

The initial rate for the 2-year discount product drops from 6.20% to 5.99% variable. The products offer a maximum LTV of 75%, with loan sizes ranging from £100,000 to £1 million per property.

Early repayment fees (ERCs) apply: 2% on first year repayments and 1% on second year repayments.

Mansfield BS says this lower rate should help improve affordability for property investors buying through a corporate structure, and lower initial monthly payments.

Tom Denman-Molloy, intermediary sales manager at Mansfield BS, said: “This rate reduction is in line with our commitment to providing competitive and flexible mortgage solutions to disadvantaged borrowers.

“With its lower rate and strong product features, we believe this offering will appeal to brokers and their clients.”