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Residential Purchase
At Mansfield Building Society, we’re proud to support house purchase with a flexible approach.
As well as our Family Assist mortgages at 100% LTV, our lending options up to 95% LTV include the following criteria options:
- Guarantor mortgages
- Multiple applicants
- Gifted family deposits
- Joint Borrower Sole Proprietor
- Right to Buy and discounted purchases from a landlord or family member
Applicants are considered with little or no credit history or who may have failed credit scores with other lenders. Soft footprint credit searches conducted and there is no automated credit scoring.
All mortgage applications are assessed on a case by case basis by our mortgage team without the use of automated credit scoring systems. We can also accommodate a range of complex credit criteria, download our Specialist Lending Criteria guide to find out more .
Find out more from our products below.
We have 8 products available
House Purchase Only Fixed Rate until 13 April 2029 – DIX265
| Term | Fixed until 13 April 2029 |
| Initial Rate1 | 5.79% |
| Overall Cost For Comparison2 | 6.8% APRC |
| MAX LTV3 | Up to 95% LTV |
| Early Repayment Charge | 3% until 13 April 2027, 2% until 13 April 2028, 1% until 13 April 2029 |
| Product Fees | £199 Application Fee, No Completion Fee |
- The £199 Application Fee is non-refundable and payable at the point of application
House Purchase Only 2 Year Fixed Rate – DIX264
| Term | 2 years |
| Initial Rate1 | 6.29% |
| Overall Cost For Comparison2 | 7.3% APRC |
| MAX LTV3 | Over 90% and up to 95% |
| Early Repayment Charge | 2% in Year 1, 1% in Year 2 |
| Product Fees | £199 Application Fee, No Completion Fee |
- The £199 Application Fee is non-refundable and payable at the point of application
2 Year Fixed Rate – DIX263
| Term | 2 years |
| Initial Rate1 | 5.89% |
| Overall Cost For Comparison2 | 7.2% APRC |
| MAX LTV3 | Over 80% and up to 90% |
| Early Repayment Charge | 2% in Year 1, 1% in Year 2 |
| Product Fees | £199 Application Fee, £800 Completion Fee |
- The £199 Application Fee is non-refundable and payable at the point of application
- The Completion Fee can be paid before completion or added to the loan. If the Completion Fee is added to the loan amount, interest will be charged on the amount of the fee and this will be reflected in the monthly repayment over the term of the mortgage
A £1,000 Completion Fee added to the loan amount would increase in value over the term of the mortgage and an illustrative example is provided below based on a static rate over a 10, 15 or 25 year term.
Fee Amount |
Rate |
Value of the fee with interest at 10 years |
Value of the fee with interest at 15 years |
Value of the fee with interest at 25 years |
| £1,000 | 7.15% | £1,715.00 | £2,072.50 | £2,757.50 |
2 Year Fixed Rate – DIX262
| Term | 2 years |
| Initial Rate1 | 5.59% |
| Overall Cost For Comparison2 | 7.2% APRC |
| MAX LTV3 | 80% |
| Early Repayment Charge | 2% in Year 1, 1% in Year 2 |
| Product Fees | £199 Application Fee, £800 Completion Fee |
- The £199 Application Fee is non-refundable and payable at the point of application
- The Completion Fee can be paid before completion or added to the loan. If the Completion Fee is added to the loan amount, interest will be charged on the amount of the fee and this will be reflected in the monthly repayment over the term of the mortgage
A £1,000 Completion Fee added to the loan amount would increase in value over the term of the mortgage and an illustrative example is provided below based on a static rate over a 10, 15 or 25 year term.
Fee Amount |
Rate |
Value of the fee with interest at 10 years |
Value of the fee with interest at 15 years |
Value of the fee with interest at 25 years |
| £1,000 | 7.15% | £1,715.00 | £2,072.50 | £2,787.50 |
2 Year Discounted Variable Rate House Purchase Only – DID167
| Term | 2 years |
| Initial Rate1 | 6.65% variable |
| Overall Cost For Comparison2 | 7.3% APRC |
| MAX LTV3 | over 90% and up to 95% |
| Early Repayment Charge | 2% in year one, followed by 1% in year two |
| Product Fees | £199 Application Fee, No Completion Fee |
- The £199 Application Fee is non-refundable and payable at the point of application
2 Year Discounted Variable Rate – DID169
| Term | 2 years |
| Initial Rate1 | 5.65% variable |
| Overall Cost For Comparison2 | 7.2% APRC |
| MAX LTV3 | 80% |
| Early Repayment Charge | 2% in Year 1, 1% in Year 2 |
| Product Fees | £199 application fee, £800 completion fee |
- The £199 Application Fee is non-refundable and payable at the point of application
- The Completion Fee can be paid before completion or added to the loan. If the Completion Fee is added to the loan amount, interest will be charged on the amount of the fee and this will be reflected in the monthly repayment over the term of the mortgage
A £1,000 Completion Fee added to the loan amount would increase in value over the term of the mortgage and an illustrative example is provided below based on a static rate over a 10, 15 or 25 year term.
Fee Amount |
Rate |
Value of the fee with interest at 10 years |
Value of the fee with interest at 15 years |
Value of the fee with interest at 25 years |
| £1,000 | 7.15% | £1,715.00 | £2,072.50 | £2,787.50 |
2 Year Discounted Variable Rate – DID166
| Term | 2 years |
| Initial Rate1 | 6.25% variable |
| Overall Cost For Comparison2 | 7.3% APRC |
| MAX LTV3 | over 80% and up to 90% |
| Early Repayment Charge | 2% in Year 1, 1% in Year 2 |
| Product Fees | £199 application fee, £800 completion fee |
- The £199 Application Fee is non-refundable and payable at the point of application
- The Completion Fee can be paid before completion or added to the loan. If the Completion Fee is added to the loan amount, interest will be charged on the amount of the fee and this will be reflected in the monthly repayment over the term of the mortgage
A £1,000 Completion Fee added to the loan amount would increase in value over the term of the mortgage and an illustrative example is provided below based on a static rate over a 10, 15 or 25 year term.
Fee Amount |
Rate |
Value of the fee with interest at 10 years |
Value of the fee with interest at 15 years |
Value of the fee with interest at 25 years |
| £1,000 | 7.15% | £1,715.00 | £2,072.50 | £2,787.50 |
2 Year Discounted Variable Rate – DID168
| Term | 2 years |
| Initial Rate1 | 5.53% variable |
| Overall Cost For Comparison2 | 7.1% APRC |
| MAX LTV3 | 75% (70% for loans over £750,000 and under £1m) |
| Early Repayment Charge | 2% in year one, followed by 1% in year two |
| Product Fees | £199 application fee, 0.50% completion fee |
- The £199 Application Fee is non-refundable and payable at the point of application
- The Completion Fee can be paid before completion or added to the loan. If the Completion Fee is added to the loan amount, interest will be charged on the amount of the fee and this will be reflected in the monthly repayment over the term of the mortgage
A £1,000 Completion Fee added to the loan amount would increase in value over the term of the mortgage and an illustrative example is provided below based on a static rate over a 10, 15 or 25 year term.
Fee Amount |
Rate |
Value of the fee with interest at 10 years |
Value of the fee with interest at 15 years |
Value of the fee with interest at 25 years |
| £1,000 | 7.15% | £1,715.00 | £2,072.50 | £2,787.50 |
Summary Criteria
Show FAQ - Joint Borrower Sole Proprietor
A close family member contributes to the mortgage but doesn’t appear on the title deeds. The residential applicants are expected to have a career path which should enable them to afford the mortgage outright in the near future.
Show FAQ - Gifted family deposits
A non-repayable and non-interest bearing gift from a parent, sibling, child, grandparent, aunt or uncle. Extended family can be considered providing a long-established relationship with the applicant can be confirmed.
Show FAQ - Multiple applicants
We accept up to 4 applicants on a mortgage with up to 3 incomes used in assessing affordability.
Show FAQ - Guarantor mortgages
A person acts as a guarantor for the borrower. The guarantor must be able to afford the proposed mortgage repayments together with their own financial commitments.
Definitions
1. Initial Rate
The Initial Rate is the rate available during the initial term of the mortgage. Once the initial rate term has expired, the mortgage will either revert to our Standard Variable Rate (SVR), or a follow-on rate that is a discount off our SVR. Our SVR is set by us and is currently 8.64%, as a variable rate it may go up or down. Our follow-on rate is 1.74% below our SVR (currently 6.90% variable) and will go up or down with changes to our SVR.2. Overall Cost for Comparison
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. Max LTV
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.Your home may be repossessed if you do not keep up repayments on your mortgage
Understanding Mortgages
*Mansfield Building Society are an introducer to Mortgage 1st for mortgage advice. Mortgage 1st is a trading style of Mortgage First Limited, which is an appointed representative of Stonebridge Mortgage Solutions Ltd, and is authorised and regulated by the Financial Conduct Authority. Mortgage 1st Limited is on the Financial Services Register under firm number 484231.
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