Mansfield launches into Scottish buy to let

By Bridging Loan Directory 18th July 2024

Mansfield Building Society has announced its launch into the Scottish buy-to-let (BTL) market.

The move will see the lender roll out its existing business BTL, Consumer BTL and regulated Family BTL products to Scottish borrowers, with some postcode restrictions in place for the Scottish islands.

Borrowing is available with loan sizes ranging between £50,000 and £1 million as well as a maximum 75% LTV available across all its BTL products.

Whilst Expat BTL is also included, the Society’s SPV Ltd Company BTL and Holiday Let lending is excluded.

Mansfield’s launch into the Scottish BTL market follows the building society’s recent criteria enhancements which now includes flats in properties of up to 10 storeys.

Portfolio landlords with a maximum of up to 10 BTL mortgages/properties with other lenders will also be considered.

Intermediary Sales Manager Tom Denman-Molloy commented:

“Mansfield’s launch into the Scottish BTL market enables us to expand our reach and offering to include Scottish landlords who now have access to our flexible and personal lending solutions.

Whether it’s our incredibly popular Family BTL lending or supporting portfolio landlords with affordability through Top Slicing, we’re looking to add an extra dimension to BTL in Scotland.”