Mansfield BS cuts SPV Limited Company holiday rental price

Mansfield Building Society has reduced the interest rate on its SPV Limited Company’s holiday let mortgage.

The initial interest rate for the two-year discount product will drop from 6.20% to a variable 5.99%, improving affordability and enabling lower initial monthly payments.

The product offers a maximum loan-to-value (LTV) of 75%, with loan sizes ranging from a minimum of £100,000 to a maximum of £1,000,000 per property. Early repayment penalties (ERCs) of 2% apply for repayment in the first year and 1% for repayment in the second year.

Tom Denman-Molloy (pictured), Intermediary Sales Manager at Mansfield Building Society, said: “We are pleased to reduce the price of our SPV Limited Company holiday let product, making it more attractive to property investors who are either already on board or want to invest.” in the holiday rental market. This rate reduction is consistent with our commitment to providing competitive and flexible mortgage solutions for underserved borrowers.

We believe that this offering, with its lower interest rate and strong product features, will certainly be attractive to brokers and their customers.”