Mansfield Building Society has doubled its maximum loan sizes for both buy-to-let (BTL) and residential mortgages, with loans now up to £1m for lending up to 80% loan-to-value (LTV).
The previous cap was £500,000.
For residential loans over 80% and up to 90% LTV, the maximum has gone up from £500,000 to £750,000.
For lending between 90% and 95% LTV, the cap has increased from £350,000 to £500,000.
Residential lending up to 65% LTV now allows for loans up to £2m.
Tom Denman-Molloy (pictured), intermediary sales manager at Mansfield Building Society, said: “With property prices increasing and subject to regional hotspots, we’re increasing our maximum loan sizes to extend the appeal of our flexible lending approach.
“Borrowers in areas of high property prices can now benefit from our extensive criteria, including capital raising and debt consolidation, a more accommodating attitude to historic credit blips, and much more.
“Our lending also works well with non-standard property types, such as properties with annexes, large acreages or with agricultural ties.”
Denman-Molloy added: “We want to give brokers more opportunities to provide solutions for their clients with large loans.”
