Society Expands Lending Area

4 August 2016

lending area

The Society is pleased to announce the expansion of the lending area in which mortgage loans of up to 90% Loan to Value (LTV) will be available.

The new regional lending area will allow the Society, with our strong presence in the South Wales housing market, to increase business levels through offering existing product ranges to a much wider market.

Monmouthshire Building Society’s new regional lending area* will offer loans up to 90% LTV within the additional postcode areas of BA, SN, RG, OX, SY and TA, with the expansion being introduced through the Society’s existing broker network and direct channels.

The new regional lending area sits aside the Society’s well-established local lending area**, defined as NP, CF, SA, LD, WR, GL, HR and BS, where a maximum LTV of 95% will be retained in line with our aim to support the local housing market and, in particular, first time buyers.

Andrew Lewis, Managing Director, commented: “I’m excited to see the expansion of the Society’s products to a wider regional lending area, and customers in these new territories will certainly benefit from a wider choice of competitive mortgage products.”

He continued: “The Society was recently commended at the 2016 Moneyfacts Awards in the category of ‘Regional Lending Provider of the Year’, demonstrating our ongoing excellence and the quality of our mortgage products and services, and I look forward to welcoming new customers to our strong and successful regional building society.”

Further information about the Society's product range including full terms and conditions, can be found here.

Geographic Restrictions

*The Society’s regional lending area is defined as postcode areas: NP, CF, SA, LD, WR, GL, HR, BS, BA, SN, RG, OX, SY and TA.

**The Society's local lending area is defined as postcode areas: NP, CF, SA, LD, WR, GL, HR and BS. See individual product information for full terms and conditions.

Eligibility

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.

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