The Mansfield Building Society has extended its geographical coverage and broker distribution for shared ownership house purchases.
The Society’s existing house purchase options include a 2-year fixed rate mortgage and 2-year discounted rate mortgage, both available up to 95% of the borrower’s share and 75% property value.
These mortgages are now available to all brokers on property located throughout England and Wales, excluding properties located within the M25.
A 2-year fixed rate product and a 2-year discounted rate product for house purchase, remortgage and staircasing will be available through specialist shared ownership brokers with the same loan-to-value limits and geographical property coverage.
Steve Walton, national development manager at the Mansfield, said:“Following our record levels of lending for all mortgage types in 2015, we’re pleased to be re-launching these existing shared ownership mortgages to all brokers with the increased geographical coverage. It now means that more brokers and their clients aspiring to own their own homes will have the benefit of our individual underwriting offer.
Moreover, we’re keen to further support this important group by adding products also available for remortgage and staircasing through specialist shared ownership brokers who are members of our Shared Ownership Club. We’re confident that offering more choice to those already on the shared ownership ladder will be well received by our brokers and their clients.”
