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Mansfield Building Society

In operation for over 140 years this Society is still mutual and therefore all profits are used for the benefit of members enabling the Society to offer good value savings, investment and mortgage rates. The Society now has assets of over £300m and operates from a purpose built office in Mansfield Town centre plus a network of offices around the region.

Mortgages are available for properties throughout England and Wales and the Society has regularly featured in the 'best buy' tables of the financial media, most recently winning the What Mortgage Award for 'Best Local Building Society 2009'. The Mansfield Building society does not aim to offer insurance, financial planning or mortgage protection services but does work alongside identified partners to provide these products.

You can apply for a fixed rate, discount rate or standard rate mortgage - these products are available for new buyers, existing customers or new customers who would like to transfer from another lender. For a five year fixed rate mortgage the minimum amount to borrow is £25,001 and the maximum is £250,000. For a discount rate over 3 years you can apply for up to 80% of the property value and borrow a maximum of £300,000.

 

Mansfield Building Society Mortgage Products

Fixed rate mortgages: You can agree to have your interest rate fixed for up to 5 years, this means that you can budget for your monthly outgoings and not be affected by any changes in the Society's Standard Variable Rate. At the end of the fixed rate period you will switch to the Standard Variable Rate and your monthly payments may fluctuate.

Discounted mortgages: You will receive a discount from the Society's Standard Variable rate (SVR) for the agreed period. If the SVR increases or falls during this time you will still benefit from the discount percentage, at the end of this period you will switch to the SVR for the remainder of the loan.

Buy to Let mortgages: These can cover up to 75% of the property value, you can choose from similar rates and types of loans as those offered to all new mortgage applicants. Your expected rental income must be at least 130% of the monthly mortgage repayments. You can borrow a minimum of £35,000 and a maximum of £300,000 spread across a portfolio of less than 6 properties.

If you are interested in a mortgage quotation including those offered by the Mansfield Building Society please complete our quick enquiry form.