A 6.25% two-year fixed rate has been introduced which is available for home purchases or remortgages up to a maximum of £200,000 and 75% loan to value, inclusive of a £999 arrangement fee.
A three-year discounted rate offers 0.50% off the society’s standard variable rate of 7.19%. It is available for remortgages and capital raising on mortgage free properties up to £250,000 and 75% loan-to-value.
Both products have no extended early repayment charge. With the two-year fixed rate the basic valuation fee will be refunded on completion up to a maximum of £400. In addition to no basic valuation fee being payable, the three-year discounted rate offers free legal fees via a nominated solicitor or £250 towards legal costs.
Pete Doherty, product manager at The Mansfield Building Society, said: “The market is tough for all lenders and introducers, but we believe both these products will be very competitive in the market and give intermediaries further options with their customers.”
