Mansfield trims rates on holiday let mortgage product Mortgage Finance Gazette

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Mansfield Building Society has trimmed rates on its SPV Ltd Company Holiday Let mortgage by 21bps.

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

Early repayment charges (ERCs) apply at 2% if redeemed in the first year and 1% if redeemed in the second year.

Mansfield BS says this lower rate should help offer enhanced affordability for property investors buying through a company structure, as well as lower initial monthly payments.

Mansfield BS intermediary sales manager Tom Denman-Molloy says: “This rate reduction aligns with our commitment to providing competitive and flexible mortgage solutions for underserved borrowers.

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