Monmouthshire launches new five year fixed rate mortgage products

Monmouthshire Building Society launches a new range of five year fixed rate house purchase and remortgage products ready for the start of the summer.

The new house purchase product range is suitable for first-time buyers and other home buyers, offering competitive interest rates and up to 95% loan to value (LTV) in our local area only.

The Society offers a five year fixed rate house purchase mortgage at 3.39%, with a maximum LTV of 75%. The product is available for house purchase across England and Wales, with a £995 product fee which can be added to the loan.

The range of new products also includes a 95% LTV five year fixed rate mortgage at 5.49%, with no product fee which is ideal for first-time buyers who may be finding it difficult to save up for a larger deposit.

For those customers looking to switch their mortgage from another lender, the Society has also launched a range of competitive five year fixed rate remortgage products, up to 90% LTV, and all with no product fees, free standard valuation and free legal fees. The product range includes a five year fixed rate at 3.69% with a 75% LTV available throughout England and Wales, and a 90% LTV product with a five year fixed rate of 4.99% available in our local area only.

Andrew Lewis, Chief Executive, said: “The Society has maintained a strong reputation for supporting first-time buyers, as well as offering competitive options for those who may be thinking of remortgaging or moving home.”

He continued, “The introduction of our extensive range of competitive fixed rate products demonstrates that we will continue to fulfil our pledge to support both local and national mortgage customers to achieve their dream of home ownership.”

Last year, the Newport-based mutual Society announced an excellent set of annual results, in which its assets grew to a record £885M, up from £819M the previous year. In the twelve months to 30th April 2013, it experienced 8.1% growth, whilst profit after tax reached £3.1m, as customers continued to respond to the Society’s secure track record, quality of service and competitive product range.

Further information about the product range including full terms and conditions, can be found at the Society’s website (monbs.com).