Help to Buy Wales: New Mortgage Product Launched

15 February 2016

Help to Buy Product Wales

The Society is pleased to affirm its commitment to supporting first time buyers and other home movers with the launch of a new Help to Buy-Wales mortgage product.

The Society’s new Help to Buy-Wales 2 year discount purchase mortgage at 2.10% comes with £500 cashback. There is a £150 Application Fee, as well as an £845 Product Fee (which can be added to the loan). There is no Early Repayment Charge (ERC) with the product. Full information about the Society’s Help to Buy–Wales mortgage product can be found here.

Providing a strong boost to the aspirations of first time buyers and those looking to move up the property ladder is a vital part of Monmouthshire Building Society’s business ethos. By participating in the Help to Buy-Wales Scheme, the Society is strengthening its commitment to both the local housing market and first time buyers.

Help to Buy-Wales (HtBW) is an initiative that provides shared equity loan assistance to home buyers of new build properties who meet the requirements of the scheme, with funding provided by the Welsh Government. Help to Buy-Wales is available to first time buyers and home movers purchasing a new build home within Wales up to a maximum purchase price of £300,000.

The Help to Buy-Wales scheme is open to borrowers with a minimum 5% deposit, with a maximum Loan to Value of 75% and the Welsh Government contributing up to 20% of the purchase price.

Monmouthshire Building Society Chief Executive Andrew Lewis commented, “The Society is pleased to commit to the Help to Buy-Wales scheme since it provides an affordable solution to home ownership for those who may find it difficult to save up for a larger deposit, as well as for existing homeowners who may be looking to move up the property ladder”.

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

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