Mansfield Building Society has extended the range of property types on its owner-occupied residential and buy-to-let (BTL) product to include flats up to 10 storeys. The changes improve on the previous maximum allowance of four storeys and the improvements includes flats over commercial units and city centre flats, which will be underwritten on the same terms. Flats are available up to a maximum of 90% LTV for residential and 75% LTV on BTL with new build flats (less than 12 months old) available at a lower LTV of 85% for residential and 70% LTV for BTL.

Precise has made a number of changes to its BTL range, including reducing rates to 4.49% and new fee products. The firm, which is part of OSB Group, said that the enhancements are designed to offer a more competitive range while helping to increase the borrowing capacity landlords. As part of the changes, Precise has reintroduced tier one products at 70% and 75% LTV with reduced paperwork for eligible borrowers and options for HMOs, MUFBs and limited companies, and has expanded tier two and three products up to 80% LTV with two- and five-year fixed options. The lender has also introduced 5% and 7% fee options on its five-year fix, while also applying a 5% fee option for its two-year fixes.

Virgin Money has made changes to a series of its mortgage products, with its purchase five-year 75% LTV now starting from 4.67%. The lender’s BTL 60% and 75% LTV fix and switch fee saver rates starting from 5.54% and 5.64% respectively. Furthermore, Virgin Money has reduced rates on its 90% and 95% LTV five-year fee-saver, which start from 5% and 5.35% respectively, with its BTL fixed rate with a £995 fee starting from 4.78%, while the fee-free product starts at 5.05%. The lender’s 65% and 75% LTV residential transfer products will also now start from 4.41%.

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