The Mansfield Building Society

Moving Home

As a mutual building society, we’ve been helping people to move home since 1870. All of our mortgages are individually underwritten by experienced staff and together with the dedicated support of our qualified advisers, you will receive a high level of personal service throughout.

We offer a range of fixed and variable rate mortgage products to suit a variety of circumstances. Below are products available for home purchase. You can compare our full range of mortgage products online or contact our sales team for further help and advice.

As a mutual building society, we’ve been helping people to move home since 1870. All of our mortgages are individually underwritten by experienced staff and together with the dedicated support of our qualified advisers, you will receive a high level of personal service throughout.

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Mortgage Product Term Initial Rate1 Overall Cost for Comparison2 Max LTV3 Early Repayment Charge Product Fees
Help to Buy Equity Loan Scheme 3 Year Discounted Rate - SEOD08
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3 years Currently 2.74% 5.0% APRC 75% 3% £199 application fee, £800 completion fee
3 Year Discounted Rate - MPD001
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3 years Currently 3.74% 5.2% APRC 80% 3% £199 application fee, £1200 completion fee
2 Year Discounted Rate House Purchase Only - DID126
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2 years Currently 2.94% 5.1% APRC Over 90% and up to 95% 2% £199 application fee, £300 completion fee
3 Year Discounted Rate - MPD002
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3 years Currently 3.18% 4.7% APRC 70% 3% £199 application fee, 0.50% completion fee
2 Year Discounted Rate - DID130
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2 years Currently 2.44% 5.0% APRC over 80% and up to 90% LTV 2% £199 application fee, £300 completion fee
2 Year Fixed Rate - DIX197
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2 years 2.89% 5.0% APRC up to 90% 2% £199 application fee, £800 completion fee
5 Year Fixed Rate House Purchase Only - DIX196
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5 years 4.25% 5.0% APRC 95% 3% £199 application fee
3 Year Discounted Rate House Purchase Only - DID128
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3 years Currently 3.24% 5.1% APRC Up to 95% 3% £199 application fee, £300 completion fee
2 Year Discounted Rate - DID131
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2 years Currently 1.90% 5.0% APRC 80% 2% £199 application fee, £300 completion fee
3 Year Fixed Rate - DIX198
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3 years 3.95% 5.1% APRC 95% 3% None

Representative Example

A mortgage of £263,812 payable over 35 years initially on a variable rate, currently 3.74% for 3 years and then on our current standard variable rate of 5.34% for the remaining 32 years would require 35 monthly payments of £1,128.61 and 384 monthly payments of £1,373.54 plus one initial interest payment of £754.82.

The total amount payable would be £569,871.53 made up of the loan amount, plus interest and fee(s) totalling £306,059.53. This includes Application Fee (£199), Chaps Fee (£25), Valuation Fee (£347), Legal Fees (£255), Completion Fee (£1,200) and Redemption Administration Fee (£150).

The overall cost for comparison is 5.2% APRC representative.

Your home may be repossessed if you do not keep up repayments on your mortgage

Definitions

1 The Initial Rate is the rate available during the initial term of the mortgage. Once the initial rate term has expired, the mortgage will revert to our Standard Variable Rate (SVR).

Our SVR is set by us and is currently 5.34%, as a variable rate it may go up or down.

2 The Overall Cost for Comparison is given as the Annual Percentage Rate of Charge (APRC) and includes all charges incurred relating to the mortgage. The APRC is intended to help you as a borrower compare the interest rates on different products.

3 Like all other mortgage lenders, we will allow you to borrow against a proportion of the overall property value. This is known as Loan to Value (LTV) and is expressed as a percentage. For example, if you want to purchase a property at £100,000 and you would like to borrow £85,000, then you will need a mortgage available at 85% Loan to Value (LTV). The available LTV can vary depending upon the type of mortgage.

Shared Ownership mortgages will offer two percentages under LTV - the proportion of the property value and the proportion of the share being purchased.


Date printed: 23 March, 2017 12:18


The Mansfield Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Reference number 206049.
Member of the Building Societies Association.