The Mansfield increases max loan size to £500,000

Ryan Bembridge

March 10, 2017

The Mansfield has increased its maximum loan size to £500,000 and on its buy-to-let range it will lend when a customer has up to 15 mortgages outstanding with other lenders.

Previously its max loan size was £300,000 and customers could have a maximum of 10 mortgages.

Customers can now also borrow up to £1m in total, an increase of £500,000.

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Steve Walton, national development manager, said: “We’re taking these measures to make our individual underwriting proposition more exciting and available to larger portfolio landlords on higher value housing stock.

“Landlords need more choice, especially given the government’s reduction in tax relief and the regulatory change to rental income calculations.

“We believe that these changes will be well received and we’re looking forward to being able to offer brokers and their clients a fresh alternative from a lender with a flexible and pragmatic approach.”

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