The society is reducing rates on mortgages up to 80% loan-to-value (LTV) available for purchase or remortgage and up to 95% LTV available for house purchase only.

The two new products are available up to 95% LTV and include a 2-year discounted rate at 2.99% variable as well as a 5-year fixed rate at 3.49%.

Both products offer a free valuation together with a £199 application fee and a £300 completion fee.

Andy Alvarez, head of mortgages sales at Mansfield Building Society, said: “There are several lenders appearing to offer good deals at the moment but the rates themselves do not always tell the full story.

“For many borrowers in today’s housing market, it’s important that behind the headline rate there is a lender that seeks to be flexible and accommodating.

“With up to 60bps off our 2-year fixed at 90% LTV and rates now starting from 1.89% for our 2-year discount at 80% LTV, we think these rate reductions will be incredibly popular with brokers.

“We’re looking forward to being able to help more of our intermediary partners realise the benefits that we provide for their clients.”