Mansfield Building Society has reduced fixed rates across its Versatility and Credit Repair mortgage ranges.
The mutual said the move bolstered its specialist lending proposition at a time when global economic uncertainty is constraining wider market availability.
The fixed rate reductions include the Credit Repair fixed rate to 31 May 2031 up to 70% loan to value (LTV), which has been reduced by 0.4% to 5.99%. The Versatility Plus two-year fixed rate up to 80% LTV is down by 0.2% to 5.99%, and the Versatility two-year fixed rate up to 85% LTV has been lowered by 0.2% to 5.99%.
Mansfield Building Society’s Credit Repair range is designed to support borrowers that have historical or recent credit issues, including credit defaults, active debt management plans (DMPs), and discharged bankrupts from day one. The products allow access to the firm’s flexible and individual approach to underwriting.
The Versatility proposition caters for borrowers whose needs do not fall within the standard criteria, which includes those with minor credit blips, complex income structures, and Skilled Worker visas, as well as self-employed applicants with one year’s trading history. It also supports lending on unusual or non-standard property types.
Tom Denman-Molloy (pictured), head of sales for Mansfield Building Society, said the reduction provides opportunities for brokers in turbulent times, noting: “As a building society, we’re focused on delivering specialist lending with a genuinely personal approach to underwriting. Our funding model enables us to support complex sectors consistently and fairly.
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“These reductions across our Versatility and Credit Repair ranges underline our continued commitment to the specialist market and provide valuable support for brokers working to place complex cases.”
