With rising house prices making it difficult for people to get on the housing ladder in certain areas of the UK, shared ownership is becoming an important option for customers. The three new products are: -
- A two year discounted product up to 90% of the share being purchased, up to 75% of the property value with a 3.99% initial rate
- A two year discounted product up to 95% of the share being purchased, up to 60% of the property value with a 4.49% initial rate
- A two year fixed rate product up to 90% of the share being purchased, up to 75% of the property value, 4.99 fixed for first two years
All products offer a Valuation fee refund up to £400, £199 application fee and no completion fee.
According to Mike Taylor, Product & Marketing Manager at The Mansfield, the new range reflects the Society’s growing reputation in meeting the needs of niche sectors.
He 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 two 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.”
