Monmouthshire Building Society is the latest lender to join the Help to Buy – Wales scheme.
The scheme is open to first-time buyers and home movers looking to purchase a new-build property in Wales up to a maximum value of £300,000.
A 5 per cent deposit is required and the Welsh government provides a 20 per cent shared equity loan.
Monmouthshire has two products available; the first is a three-year fixed rate mortgage with an interest rate of 2.95 per cent.
The second is a three-year discounted mortgage, currently at 2.75 per cent. The interest rate is a discount of 2.24 per cent taken from the society’s standard variable rate (SVR) of 4.99 per cent.
Both products come with a £99 fee and revert to the SVR at the end of the three-year term.
The Help to Buy – Wales scheme was launched on 2 January 2014. Other participating lenders so far are Barclays, Lloyds Banking Group, Nationwide Building Society, Principality Building Society and Leeds Building Society.
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