Mansfield Building Society has boosted its most loan sizes across its vary of purchase to let and residential mortgages, with loans now obtainable as much as £1m for purchase to let and residential lending as much as 80% LTV.
Maximum loan sizes have doubled from £500,000 to £1m on all lending as much as 80% LTV, Mansfield has additionally elevated its most loan sizes for prime LTV residential lending too.
Residential lending over 80% and as much as 90% LTV has seen the utmost loan dimension enhance from £500,000 to £750,000, and between 90% and 95% LTV, the lender has elevated most loans from £350,000 to £500,000.
Residential lending as much as 65% LTV can now accommodate loans of as much as £2m.
Commenting on the adjustments Mansfield Building Society middleman gross sales supervisor Tom Denman-Molloy, stated: “With property costs rising and topic to regional hotspots, we’re rising our most loan sizes to increase the enchantment of our versatile lending strategy.
Borrowers in areas of excessive property costs can now profit from our in depth standards, together with capital elevating and debt consolidation, a extra accommodating perspective to historic credit score blips, and rather more.
He added: “Our lending additionally works effectively with non-standard property varieties, corresponding to properties with annexes, massive acreages or with agricultural ties.”
