Mansfield BS increases its maximum buy to let mortgage size.

If you are looking for a buy to let mortgage with a loan value of up to £500,000, Mansfield Building Society could now be an option.

The lender has recently increased the maximum loan amounts it offers from £300,000 to £500,000. The changes demonstrate Mansfield is keeping pace with the demands of the market as house prices have risen so much in recent years. 

Landlords with larger property portfolios could now take advantage of the offer, even if they have up to 15 outstanding mortgages with other lenders. Individuals can also borrow up to a cumulative sum of £1million with Mansfield, which is £500,000 more than was previously possible with this lender.

Lenders are competing strongly with each other in the buy to let market right now. The changes to tax relief on mortgage interest payments, as well as the rise in inflation, means lenders are thinking hard about how best to support landlords. 

For the latest offers, speak to a buy to let mortgage expert at Deal Direct. 

Please be aware that Deal Direct are regulated to offer independent mortgage advice; however, we are not regulated to offer general financial advice. If you want to discuss the suitability of property as an investment, you will need to contact an independent financial adviser.

Please also note that buy to let mortgage applications from:

·applicants whose intention is to benefit from house price growth

·applicants whose intention is to benefit from rental income

·applicants who are letting to buy

will be treated as normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.

For flexible buy to let mortgage options, call Deal Direct on 0800 048 8828 today.