The Monmouthshire Building Society has launched a new range of two year fixed rate house purchase and remortgage products.
The Welsh mutual offers a two year fixed rate house purchase mortgage at 2.45%, with a maximum LTV of 80%. The product is available for house purchase throughout England and Wales, with a £995 product fee which can be added to the loan.
The new range also includes a two year fixed rate house purchase mortgage at 3.79% with a maximum LTV of 95%, available in the Society’s local geographical area. This is defined as postcode areas: NP, CF, SA, LD, WR, GL, HR and BS.
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 2.95% with an 80% LTV available throughout England and Wales with no product fee; and a two year fixed rate at 3.65% with a 90% LTV available in the Society’s local area only, also with no product fee.
“In response to the changing mortgage landscape, the vast majority of our customers are seeking a fixed rate deal to tie themselves in to so they can budget and safeguard against any future interest rate rises,” said Colin Strong, head of lending procurement at the Monmouthshire.
“It’s understandable that, in this low interest market, our customers are the driving force behind our competitive mortgage product range.
“The mortgage market is showing some very positive signs for the year ahead, with 2014 proving to be the best year for first time buyers since the downturn in 2007.”