Mansfield Building Society has updated its versatility range, launching two new two-year discounted variable rate products with reductions of up to 0.24%. The range includes products for borrowers with complex circumstances, such as non-standard incomes, historic credit blips and unusual property types, offering mortgage types across two tiers of complexity – versatility and versatility plus. The former is available between 80% and 85% LTV with a variable rate of 6.40%. The versatility plus product is available up to 80% LTV with a variable rate of 5.95%.

Tembo has increased its lifetime ISA (LISA) rate to 4.75%, matching the Bank of England base rate. The interest rate is not time-limited and is part of a range of improvements the company has made for its LISA savers. As a further boost, Tembo is also offering its mortgage service on a free basis to anyone holding a Tembo LISA, saving them up to £479, and from October, all Tembo cash LISA savers will pay no fees.

Matt Heap has been appointed as the new head of credit in Time Finance’s asset finance division. He joins the lender with over two decades of financial services experience, most recently serving as a business manager at Barclays and as a senior underwriter at Haydock Finance. In his new role, Heap will work with the group risk director to enhance the firm’s asset finance offering by improving the credit and risk management processes, while aligning the risk appetite to support a higher volume of deals without compromising the business’s security.

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