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Monmouthshire Building Society refreshes purchase and remortgage product range

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  • 11/06/2021
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Monmouthshire Building Society refreshes purchase and remortgage product range
Newport-based Monmouthshire Building Society has relaunched its range of purchase and remortgage products.

 

The products range from two-year and five-year fixed deals and are available from 70 per cent loan to value (LTV) to 95 per cent LTV.

Products under 90 per cent LTV are available direct and through brokers, while those above 90 per cent are exclusive to brokers.

Highlights include a five-year fixed residential remortgage product with a maximum LTV of 80 per cent. It has a rate of 1.89 per cent and is available through England and Wales with a minimum loan size of £500,000 and maximum loan size of £1.5 million.

The product also comes with early repayment charges (ERCs) of 5 per cent, 4 per cent, 3 per cent and 2 per cent for the final two years. It also has assisted legal fees and a free standard valuation up to £1 million. It is subject to a fee of £1,999.

The product is also available as a purchase mortgage product with a maximum LTV of 80 per cent. This is subject to an admin fee of £150.

Monmouthshire Building Society’s product development manager James Mann said: “Our focus is on assisting new and existing members as best we can during these challenging times.

“The UK housing market is growing at its fastest rate in five years and our new products reflect our agile approach to changing market conditions,” he added.

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