5 Year Fixed Rate Mortgage (up to 95% LTV)
The interest rate for this product is fixed for five years, this means you can plan your finances with more certainty. At the end of the fixed rate period the interest rate will revert to our Standard Variable Rate.
The maximum Loan to Value (LTV) is the amount of a mortgage loan expressed as a percentage of the purchase price or valuation, whichever is the lower.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Interest Rates:
For House Purchase
| Period of loan | Rate Payable | Additional Information |
|---|---|---|
| Months 1-60 | 5.99% Fixed Rate | |
| Month 61 onwards | 4.99% Standard Variable Rate | |
| The overall cost for comparison is: | 5.9% APR |
Product Code: F153
Key Features:
| Product Fee | £995 |
| Maximum Loan to Value % | The maximum loan to value is 95% within our local area only*. |
| Loan Size | £40,000 to £175,000 |
| Repayment Type | Repayment only. |
| Early Repayment Charge | During the first 5 years an early repayment charge of 4% of the amount repaid will be incurred. After this period no early repayment charges apply. |
| Overpayments | Regular overpayments are not permitted during the first 5 years from completion. You may make capital repayments of up to 10% of the original sum borrowed in each of the first 5 years without an early repayment charge. Following receipt of a lump sum payment, the amount that you owe, and so the amount of interest you pay, is reduced immediately. |
Further Information:
- *Our local geographical area is defined as postcode areas: NP, CF, SA, LD, WR, GL, HR and BS. For house purchase, the maximum Loan to Value is the amount of a mortgage loan expressed as a percentage of the purchase price or valuation, whichever is the lower.
- If you move house, these terms can be transferred to any new loan, up to the amount of this loan, provided it is secured on land in Wales or England, used for owner occupation and completes at the same time as redemption of this loan. You must also meet the Society's lending criteria at the time. In addition where you are transferring the product terms a further product fee of £995 will become payable if your new loan is greater than 80% of the purchase price or valuation whichever is the lower. If however, your new loan is for less than the amount of your existing loan, an early repayment charge would be payable on the difference.
- Our house purchase products are available to both new and existing borrowers who are looking to move house.
- For loans greater than £175,000 please contact us.
- Mortgage interest is calculated on a daily basis.
- Loans available to persons aged 18 or over and are subject to status and valuation of a suitable property, over which security will be required. All lending will be subject to appraisal of the financial standing of the applicants.
Links to further important information and details of how to apply can be found on the top right-hand-side of this page.
Monmouthshire House, John Frost Square, Newport, NP20 1PX
Tel: 01633 844444
Fax: 01633 844445
Monmouthshire Building Society is authorised and regulated by the Financial Services Authority (FSA), registration number 206052
