Monmouthshire Building Society has launched a new range of two-year fixed-rate house purchase and remortgage products.
The Welsh lender’s new house purchase product range offers competitive interest rates, free legal fees and up to 95 per cent loan-to-value (LTV) in selected areas.
The Society offers a two-year fixed-rate house purchase mortgage at 2.25 per cent, with a maximum LTV of 60 per cent. The product is available for house purchase throughout England and Wales, with a £499 product fee which can be added to the loan.
The new range also includes a two-year fixed-rate mortgage at 3.79 per cent with a maximum LTV of 95 per cent, available in the Society’s local geographical area, 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 launched a number of fixed rate remortgage products, including a two-year fixed-rate at 2.7 per cent with an 80 per cent LTV available throughout England and Wales with no product fee, and a two-year fixed-rate at 3.65 per cent with a 90 per cent LTV available in the Society’s local area only, also with no product fee.
Colin Strong, head of lending procurement, comments:
“The Society has achieved unprecedented success with its previous fixed rate product launches, with more and more of our customers seeking a fixed rate deal. In response to customer demand, we have revamped our fixed rate products to further support first-time buyers and those looking to remortgage.
“The Society’s comprehensive range of competitive fixed rate products demonstrates our commitment to providing mortgage products that allow borrowers to better budget during fixed term periods and to protect themselves against any potential rate increases.”
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