Mansfield Building Society has introduced a 5-year fixed rate buy-to-let (BTL) mortgage product.

The offering is set at 2.74% and has a maximum loan-to-value (LTV) of 75%.

It also includes 3% early repayment charge, £199 application fee and £1,300 completion fee.

Rental income for this product must be at least 125% of the monthly mortgage payment calculated at 5% (145% at 5% for higher rate tax payers for house purchase or remortgage with additional borrowing).

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