Mortgages

At the Monmouthshire Building Society we offer a competitive range of mortgage products, coupled with a personal, flexible approach, to make sure you find the mortgage that's right for you.

We offer various types of mortgage products suitable for house purchase, remortgage, buy-to-let and additional borrowing. Our Standard Variable Rate is currently 4.74%.

Please place your cursor over the icons in the table below for product specific information.

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2 YEAR DISCOUNT MORTGAGES (Variable Rate)

Product Term (code) Initial
Interest
Rate %
Overall cost
for
comparison
Maximum Loan to Value* Product Fee Product Features More
2 Year
(D216)
1.47% 4.2% APRC 65% Nil
  • G
  • M
  • MINMAX
  • ERC
  • CAP
2 Year
(D217)
1.35% 4.3% APRC 80% 995
  • G
  • M
  • MINMAX
  • ERC
  • CAP
2 Year
(D218)
1.60% 4.4% APRC 90% 995
  • LOW
  • G
  • R
  • MINMAX
  • ERC
  • CAP
2 Year
(D219)
2.89% 4.6% APRC 95% Nil
  • LOW
  • G
  • R
  • MINMAX
  • ERC
  • CAP
Representative example:

A mortgage of £165,868 payable over 22 years and 9 months initially on a discounted variable rate for 2 years at 2.89% and then on our current variable rate of 4.74% for the remaining 20 years and 9 months would require 24 monthly payments of £829.74 and 249 monthly payments of £980.72.

The total amount payable would be £264,951.04 made up of the loan amount plus interest (£98,245.04), valuation fee (£288) application fee (£150), legal costs (estimated £250), funds transfer (£25) and mortgage exit fees (£125).

The overall cost for comparison is 4.5% APRC representative.


HOUSE PURCHASE ONLY - FIXED RATE MORTGAGES

2 Year
(F390)
1.70% 4.4% APRC 80% 999
  • G
  • M
  • MINMAX
  • ERC
  • CAP
2 Year
(F405)
1.85% 4.5% APRC 90% 999
  • G
  • R
  • MINMAX
  • ERC
  • CAP
2 Year
(F406)
2.15% 4.4% APRC 90% Nil
  • G
  • R
  • MINMAX
  • ERC
  • CAP
2 Year
(F407)
3.20% 4.6% APRC 95% Nil
  • LOW
  • G
  • R
  • MINMAX
  • ERC
  • CAP
2 Year
(F379)
3.75% 4.7% APRC 95% Nil
  • LOW
  • G
  • R
  • MINMAX
  • ERC
  • CAP
  • CASH
Representative example:

A mortgage of £137,873 payable over 24 years and 4 months initially on a fixed rate for 2 years at 1.85% and then on our current variable rate of 4.74% for the remaining 22 years and 4 months would require 24 monthly payments of £586.75 and 268 monthly payments of £779.49.

The total amount payable would be £224,822.32 made up of the loan amount plus interest (£85,112.32), product fee (£999), valuation fee (£288), application fee (£150), legal costs (estimated £250), funds transfer fee (£25) and mortgage exit fees (£125).

The overall cost for comparison is 4.4% APRC representative.


HOUSE PURCHASE ONLY - 5 YEAR FIXED RATE MORTGAGES

5 Year
(F395)
2.24% 3.9% APRC 80% 999
  • G
  • M
  • MINMAX
  • ERC
  • CAP
5 Year
(F397)
2.39% 3.9% APRC 80% Nil
  • G
  • M
  • MINMAX
  • ERC
  • CAP
5 Year
(F396)
2.67% 4.2% APRC 90% 999
  • LOW
  • G
  • R
  • MINMAX
  • ERC
  • CAP
5 Year
(F398)
2.74% 4.1% APRC 90% Nil
  • LOW
  • G
  • R
  • MINMAX
  • ERC
  • CAP
5 Year
(F399)
3.74% 4.5% APRC 95% Nil
  • LOW
  • G
  • R
  • MINMAX
  • ERC
  • CAP
5 Year
(F400)
4.24% 4.7% APRC 95% Nil
  • LOW
  • G
  • R
  • MINMAX
  • ERC
  • CAP
  • CASH
Representative example:

A mortgage of £145,673 payable over 25 years and 1 month initially on a fixed rate for 5 years at 2.74% and then on our current variable rate of 4.74% for the remaining 20 years and 1 month would require 60 monthly payments of £669.71 and 241 monthly payments of £798.80.

The total amount payable would be £233,483.40 made up of the loan amount plus interest (£87,020.40), valuation fee (£240), application fee (£150), legal costs (estimated £250), funds transfer fee (£25) and mortgage exit fees (£125).

The overall cost for comparison is 4.1% APRC representative


HOUSE PURCHASE ONLY - 3 YEAR FIXED RATE

3 Year
(F408)
1.40% 3.8% APRC 65% 999
  • G
  • R
  • MINMAX
  • ERC
  • CAP
Representative example:

A mortgage of £164,827 payable over 24 years and 8 months initially on a fixed rate for 3 years at 1.70% and then on our current variable rate of 4.74%  for the remaining 22 years and 8 months would require 24 monthly payments of £682.13 and 272 monthly payments of £924.08.

The total amount payable would be £269,509.88 made up of the loan amount plus interest (£102,893.88), product fee (£999), valuation fee (£240), application fee (£150), legal costs (estimated £250), funds transfer fee (£25) and mortgage exit fees (£125).

The overall cost for comparison is 4.4% APRC representative.


Your home may be repossessed if you do not keep up payments on your mortgage.
Think carefully before securing other debts against your home.

Key to Product Features

Please place your cursor over the icons in the table above for product specific information.

  • Low Deposit
  • Geographical restrictions apply as stated in the product features
  • Free standard valuation fee for properties up to 1million
  • Repayment Only Mortgage
  • Mixed Repayment/Interest only mortgages will be considered but the interest only element cannot exceed 50% LTV. This only applies to new borrowers, with existing borrowers being allowed to transfer their existing interest only loan if they move house. Any additional borrowing must be on a repayment basis.
  • You will not have to pay the usual legal fees in securing your new mortgage if our appointed solicitors are used. Our solicitor acts for the Society only to ensure we have good legal claim over your property. (You will have to pay for any additional legal work that the solicitors do which is beyond the usual scope of a simple remortgage). For example, change of your name, transfers of equity, deeds of postponement, merger of freehold and leasehold, remedy of any title defect, etc.
  • Minimum/Maximum Loan Size
  • Early Repayment Charge will apply
  • No Early Repayment Charge.
  • Capital Repayments allowed as stated in the product features
  • Capital Raising or Debt Consolidation facility apply as stated in the product features.
  • Cashback payable on completion of your 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.

** The follow on interest rate displayed above is the Society's current standard variable rate, which can change at any time in the future.

How can we help you?

To find out if we can help you with your exact mortgage requirements why not use our Mortgage Decision in Principle online form. Alternatively, why not call one of our mortgage advisers on 01633 844 351 (9am-8pm Mon- Thu, 9am-5pm Fri, 9am-4pm Sat).

To find out more please select from the following options:

Monmouthshire House, John Frost Square, Newport, NP20 1PX
Tel: 01633 844444
Fax: 01633 844445

Monmouthshire Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register Number: 206052.

Most Buy to Let Mortgages are not regulated by the Financial Conduct Authority or the Prudential Regulation Authority.

 


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