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Monmouthshire BS launches 90 per cent LTV mortgages

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  • 15/06/2020
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Monmouthshire BS launches 90 per cent LTV mortgages
Monmouthshire Building Society has relaunched mortgages at 90 per cent and 75 per cent loan to value (LTV) – however it warned the higher tier availability could be short lived.

 

Announcing the product release, the mutual said it “expects the 90 per cent mortgages to be very popular and could be withdrawn at short notice.”

It has launched two- and five-year fixed rate residential deals at both loan to value levels.

The two-year fix at 90 per cent LTV is available at 2.79 per cent with standard valuation, no product fee and three per cent early repayment charge (ERC).

It is available throughout England and Wales with a minimum loan size of £40,000 and maximum loan size of £750,000.

The five-year product is available at 2.99 per cent with the same conditions although ERCs are on a sliding scale from five to two per cent.

The 75 per cent LTV deals are at 1.75 per cent and 1.95 per cent for two- and five-years respectively.

Product development manager Dan Goulding said: “We want to assist new and existing members the best we possibly can during these challenging times.

“We know from broker feedback, that the lockdown has provided people with more time to think about their living arrangements, and we feel this extended range will help first time buyers and also people who already have a mortgage.”

 

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