Society Continues To Help Customers Get On The Property Ladder

29 November 2013

first time buyers

The Society has built up an enviable track record for helping first time buyers onto the property ladder, having introduced a range of competitive low deposit mortgages which offer up to 95% loan to value in selected areas long before the Government’s launch of the second phase of the Help to Buy Scheme. 

As a vibrant contributor to the local economy, Monmouthshire Building Society believes that providing a strong boost to the aspirations of first time buyers is a vital part of its business ethos. Since 2011, the Society decided to provide financial support through a range of low deposit mortgages, to enable local customers to achieve their desire for home ownership.

The Society’s house purchase mortgage product range is suitable for home buyers, including those purchasing new build properties*, whether they are buying for the first time or moving home. In many cases there are no product fees to pay.

First time buyers who successfully complete on a Monmouthshire Building Society (purchase) mortgage product will also be eligible to apply for £100 towards the cost of home insurance arranged by the Society. This offer only applies to the first year’s premium and will not be carried forward to any subsequent renewals. To be eligible, the applicant(s) must be a first time house purchaser, have a Monmouthshire Building Society mortgage in force by 30th April 2014 and the home insurance policy must still be in force 90 days after the policy start date. Terms and conditions apply.

The Society also offers a First Home Bonus Saver account, specifically designed for customers looking to save for a deposit in order to purchase their first home. The account offers a highly competitive yet flexible savings method, with a variable interest rate currently at 2.00% AER/Gross and fixed conditional bonus of 3.00% which combined currently earns 5.00% AER/Gross. Terms and Conditions available via the link above.

Commenting on the Society’s support, Chief Executive, Andrew Lewis said “The Society is proud of the support it is able to offer first time buyers who wish to pursue their dream of home ownership. The strength of our product range, allied to our award-wining recognition, cements the Society’s position as a competitive, vibrant and approachable provider of mortgage loans”.

He continued, “The level and success of our support is particularly gratifying considering the financial difficulties and challenges that have emerged following the economic downturn. Our pledge to support first time buyers is part of our long-term vision for the future of the Society and its position within the mortgage market.”

*All new build lending between 90-95% LTV is for houses with a minimum of two bedrooms and situated in NP, CF, SA, LD, WR, GL, HR and BS postcode areas only.

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

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