Monmouthshire launches range of five year fixed rate mortgages
In response to changing market conditions, Monmouthshire Building Society, one of Wales’ leading financial institutions, has launched a new range of five year fixed rate house purchase and remortgage products.
The Society offers a five year fixed rate house purchase mortgage at 3.43%, with a maximum LTV of 80%. 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 4.59%, with no product fee which is ideal for first-time buyers who may be finding it difficult to save up for a larger deposit. Further information about the product range including full terms and conditions, can be found at the Society’s website (monbs.com).
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 3.59% with a 75% LTV available throughout England and Wales, and a 90% LTV product with a five year fixed rate of 4.35% available in the Society’s local area only.
Andrew Lewis, Chief Executive, said: “In response to customer demand, the Society has revamped its fixed rate mortgage product range for customers who are seeking a fixed rate deal. We’re pleased to offer a new suite of five year fixed rate products which are aimed to support first-time buyers and those looking to remortgage.”
He continued, “Our comprehensive range of competitive fixed rate products give borrowers peace of mind that they’re protected against any potential rate increases and allow them to better budget during fixed term periods. 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.”
This year, the Newport-based mutual Society announced an impressive set of annual results. In the twelve months to 30th April 2014, it experienced 10.3% growth, whilst profit after tax reached £4.0m, as customers continued to respond to the Society’s secure track record, quality of service and competitive product range. In September 2014, the Society announced the achievement of one billion pounds in assets.