Mansfield Building Society has reduced rates on its SPV limited company holiday let mortgages, in a bid to offer a more competitive option for investors.
The initial rate for the 2-year discount product will drop from 6.20% to 5.99% variable.
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 £1m per property.
Early repayment charges (ERCs) apply at 2% if redeemed in the first year and 1% if redeemed in the second year.
Tom Denman-Molloy (pictured), intermediary sales manager at Mansfield Building Society, said: “We are pleased to reduce the rate on our SPV limited company holiday let product, making it more attractive to property investors, either already within or looking to invest in the holiday let market.
“This rate reduction aligns with our commitment to providing competitive and flexible mortgage solutions for underserved borrowers.
“With its lower rate and strong product features, we believe this offering will certainly appeal to brokers and their clients.”
