Mansfield refreshes shared ownership range
The building society has released a 2-year discount mortgage at 3.99% with up to 90% of the share being purchased subject to the mortgage not exceeding 75% of the property value.
Also available is a 2-year discount at 4.49% with up to 95% of the share being purchased up to 60% of the property value and a 2-year fix of 4.99% with up to 90% of the share being purchased up to 75% of the property value.
Each product charges a £400 valuation fee, which is refunded on completion and a £199 application fee.
Mike Taylor, product and marketing manager of The Mansfield, said: “We have put a lot of work into shared ownership, and demand is growing as a result of our individual underwriting service.
“In response, we have introduced more variety through our new discounted rate products and have ensured the new products are available on a 2-year term in light of the feedback we’ve received.
“With a refunded valuation and no completion fee, our products are supporting this sector by offering access to competitive funding options.”