The new product sits alongside its discounted rate BTL mortgage, which was launched in April.
Available for employed, self employed and retired applicants with a minimum income of £20,000, further features include a 2 year fixed rate at 3.99% for both purchase and remortgage, up to a maximum loan £300,000 and 70% LTV, at rental income cover of 130%.
With the Buy to Let market growing, The Mansfield is also looking to support landlords with the benefit of its individual underwriting expertise. Considering applications where there are up to 10 mortgages outstanding, the products are aimed at landlords with small to mid-sized portfolios.
Mike Taylor, Sales & Marketing Manager at The Mansfield said:
"As a long time supporter of the Buy to Let market, we can see the strong growth in property values is leading to a healthy lettings market. With the new rate fixed for two years, landlords can take advantage of a great price and our flexible lending."
"I know this product will be welcomed by our professional introducers, who have told us how important this channel is in the property market and I am sure there’ll be a lot of activity in the coming weeks from brokers who can see the value we are offering to their clients."
