Mansfield Building Society has now launched a three year fixed rate mortgage available up to 95% loan to value (LTV), for both first and second time buyers.
The range now offers a three year fixed rate starting from 3.95%, which comes with no application or completion fee and includes a free basic valuation. This loan is available for capital repayment only.
The latest product from the lender is designed to offer greater choice to first time buyers in the higher loan to value sector, especially since figures from Moneyfacts suggested that product availability at 95% LTV had dwindled across the market.
This forms part of an existing range of high LTV mortgages from Mansfield Building Society, with the lender also offering a two year discounted rate and five year fixed rate up to 95% LTV as part of this range.
Also in the high LTV sector, Furness Building Society has launched a new discounted variable rate product at just 1.24%. The 80% LTV product comes with a £999 fee, which can also be added to the loan, and is available for both purchase and remortgages.
This product comes with a free legal package on remortgages and has a 2% early repayment charge in the first year, which drops to 1% in the final year.
New discounted Standard Variable Rate mortgages have also been launched by Yorkshire Building Society for first time buyers, remortgages and existing customers for a fee of £845. The two year discounted mortgages come with a rate of 1.15% to 65% LTV and 1.23% to 75% LTV.
Considering the lender’s current standard variable rate stands at a discounted rate of 4.74%, these products are designed to allow greater flexibility with the option for borrowers to redeem their mortgage at any time during the discounted period with a 1% early repayment charge. Homeowners can also transfer their mortgage to a new property at no extra charge.