The Mansfield cuts rates
The mortgages are available up to maximum loan to values of 80%, 85% and 90% with initial payable rates of 2.90%, 3.45% and 4.09% respectively.
Chief Executive Gev Lynott explained: “We do our utmost to help all borrowers with a range of solutions for first and second time buyers as well as those looking to remortgage.
“These new products have been priced to ensure that the initial payable rate is lower than the rate charged on our equivalent fixed rate product, so they will prove attractive to borrowers who are keen to keep initial costs to a minimum.
“Strict tranche limits apply so borrowers need to act quickly to avoid disappointment.”
Application and completion fees are £998 on the 80% mortgage, £999 on the 85% mortgage and £599 on the 90% mortgage.
The products are available throughout England and Wales direct from the Society or via intermediaries.