"We’re keen to increase the visibility of our well-priced discounted rates for those with circumstances who don’t meet automated scorecard criteria."
Holiday lets will see a 0.20% reduction, making the initial pay rate 3.45% variable, while the Versatility mortgages are reducing by 0.10% each to 3.99% variable (Versatility 3) and 4.39% variable (Versatility 4).
Over half a per cent has been cut from its residential two-year discount product at 95% LTV, with borrowers now able to choose an initial variable rate of 2.99%.
The range of Versatility mortgages is for circumstances that require more of the Society’s underwriting expertise, such as unusual property types, complex income types, and historic credit blips.
Paul Lewis, national development manager at The Mansfield, said: “We hope the new pricing will provide an incentive for brokers and their clients to take advantage of our flexible approach to lending. We’re keen to increase the visibility of our well-priced discounted rates for those with circumstances who don’t meet automated scorecard criteria.
"However, we recognise that discounted variable rates aren’t for everyone, so I’m pleased to confirm that our Versatility range also includes fixed rates, providing even greater choice.”
