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About
Established in Newport in 1869 to help local people build homes, we now help people across Wales and England buy properties and save for their future.
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Branches

Are your branches and agencies open?
A

The Welsh Government has announced a 'fire break' national lockdown which will begin on Friday 23rd October and end on Monday 9th November.
 
The Welsh Government has asked the public to stay at home over this 2 week period to reduce the spread of COVID-19.
 
For this reason we are asking all members to transact online or over the phone wherever possible during the fire break, to help keep everyone safe.

We are encouraging our members to only visit a branch if you need to make an essential transaction that cannot wait until after the fire break - such as withdrawing funds to pay for food, bills, or rent.
Our branches will be open to members on weekdays from 9am-1pm and closed on weekends. However, you will be able to call your local branch to transact on weekdays between 9am-4pm.
 
If you need to transact during the firebreak, you can:
 
  • Call your local branch
  • Call our Customer Services Team on 01633 844 340

 

Our agencies will also be operating a reduced service during the firebreak - please contact your agency if you require more information.

Contact details for our branches and agencies are available here.

What precautions are you taking in your branches?
A

  • We are operating in accordance with social distancing guidelines, so please be prepared to queue outside if the branch is busy.

 

  • We have implemented additional deep cleaning measures.

 

  • Our branch staff have been provided with PPE.

 

  • All members visiting a branch must wear a mask unless medically exempt.

Contact

Are your phone lines open?
A

Our customer service phone lines are open during the following hours:

 

Monday: 9am - 5pm

Tuesday: 9am - 5pm

Wednesday: 10am - 5pm

 Thursday: 9am - 5pm

Friday: 9am - 5pm

Saturday: Closed

Sunday: Closed

 

However our phone lines are currently very busy, so please only call us if it is urgent - we want to make sure our members in the most urgent need can get through to us.

 

Our phone numbers can be found on our contact page, along with an online form you can use if you have a less urgent enquiry.

I'm experiencing financial difficulties - what should I do?
A

If you have a mortgage with us, you can apply for a mortgage payment holiday here.

 

If you have savings with us and would like to access them early, please fill in a contact form on our contact page and we'll be in touch.

 

You can also contact the following organisations who may be able to help:

 

Money Advice Trust 0800 138 7777

National Debtline 0808 808 4000

Business Debtline 0800 197 6026

Stepchange www.stepchange.org

 

The FCA also has advice for dealing with financial difficulties here.

Mortgages

Will you be reducing your mortgage rates?
A

In response to the Bank of England reducing the bank rate, we will be reducing our standard variable rate (SVR) for mortgages from 5.24% to 4.74% on 1st of June for existing borrowers.

 

This means that existing borrowers on a discount/variable rate will see their repayments decrease from the 1st of June. 

Can I still apply for a mortgage with you?
A

We currently have a very limited mortgage range available to new borrowers. 

This is because property valuations cannot be carried out at this moment in time, and without a property valuation we are unable to make mortgage offers.

 

We apologise for any inconvenience - please check back once COVID-19 restrictions have been lifted.

I have a mortgage offer from you but I can't complete - what do I do?
A

If you'd like us to extend your mortgage offer, please contact your Mortgage Adviser or Mortgage Broker. 

Can I have a mortgage payment holiday?
A

Mortgage support, including payment holidays and reduced payments, is available for borrowers whose mortgage:
  • Is for their personal residential property, and their ability to make repayments has been impacted by the coronavirus (COVID-19)

 

  •  Is for a buy-to-let property where the tenant has been impacted by the coronavirus (COVID-19) and this has affected the payment of rent. Support will be given on the understanding that support will be given to your tenant.

 

You won't need to provide any evidence, by submitting your application you're confirming that your finances have been impacted by coronavirus.

 

You can still apply if you're already behind on your mortgage payments. Your arrears balance won’t increase during the payment holiday but you’ll need to think about how to repay the arrears at the end of your payment holiday.  

 

You can apply for support with your mortgage payments here.

How will a payment holiday impact my mortgage?
A

Interest will continue to build at your usual interest rate during the payment holiday, and you will also have to pay the repayments you missed.

 

This means your mortgage balance will be slightly higher than if you had not taken out a holiday. As a result, we'll need to recalculate your monthly repayments, and they may be higher than they were before your payment holiday.

 

For an estimate of how much your payments may increase by, try using this payment holiday calculator from MoneySuperMarket.

 

If you're unable to afford the increased payments, please fill in a contact form on our contact page and our mortgage team will be in touch to help. 

 

Do I have to take the full 3 months holiday in one go?
A

Yes, you’ll need to take all 3 months together. You can request a shorter holiday or end the holiday early, but you cannot request multiple payment holidays with breaks in between. 

I've been accepted for a mortgage payment holiday - should I cancel my direct debit?
A

Please don't cancel your direct debit, as this will make it easier to restart your payments when your payment holiday comes to an end.

 

We will not request the payments during your payment holiday, so you don't need to worry about us taking payments if you leave the direct debit arrangement in place. 

What happens at the end of my payment holiday?
A

After 3 Months

At the end of your 3 month payment holiday, we'll write to you outlining the options available to you - these options will include different ways of repaying your deferred payments, plus an option to extend your payment holiday by a further 3 months. 

If you've already received this letter, you can let us know your preferred option using our Payment Holiday Next Steps form. 

If you don't let us know your preferred option after receiving the letter, we will restart your monthly payments with the shortfall spread over the remainder of your mortgage term.

After 6 Months

If you're coming to the end of a 6 month payment holiday, we'll send you another letter outlining your options for repaying your deferred payments. 

If you've already received this letter, you can let us know your preferred option here. 

If you don't let us know your preferred option after receiving the letter, we will restart your monthly payments with the shortfall spread over the remainder of your mortgage term.

Can I extend my payment holiday?
A

At the end of your first 3 month payment holiday, we'll write to you outlining the options available to you - one of these options will be extending your payment holiday by a further 3 months. 

Please wait to receive this letter before getting in touch regarding a payment holiday extension. 

If you've already received this letter, you can request an extension using our Payment Holiday Next Steps form. 

Can I cancel my payment holiday?
A

Yes, please contact our Mortgage Support Team on 01633 844 370 if you’d like to cancel your payment holiday.

Can I switch my product when I am on a payment holiday?
A

Yes, if your existing mortgage rate is ending during your payment holiday, or you are already on our Standard Variable Rate, you are able to switch your mortgage to a new product. If you wish to switch before the end of your existing mortgage product, Early Repayment Charges may apply. Please check the Terms and Conditions of your existing mortgage product first.

Savings

How can I pay in to my savings account?
A

We are currently only accepting essential transactions in branch, which we class as withdrawing funds for food, bills or rent.

 

If you would like to pay in to your savings account please send a one off payment or set up a standing order from your bank using the following details:

 

Recipient: Monmouthshire Building Society
Sort Code: 40-05-30
Account Number: 14576608
Reference: The 10 digit account number of the savings account you want to credit - please don't forget this or we'll have to return the funds.

 

You can also make deposits, or other non-essential transactions such as updating your passbook, by sending your instructions in one of the following ways:

 

  • Sending your instructions to a branch or to our head office via Royal Mail
  • Placing your instructions in a branch's post box, or if the branch doesn't have a post box, placing an envelope through the door while maintaining social distancing.

 

We will return via Royal Mail when the transaction is completed.


You can find a list of our branches along with their addresses on our contact page, under find us in branch. Our head office address is Monmouthshire Building Society, John Frost Square, Newport, South Wales, NP20 1PX.

Can I access my savings early?
A

If you are experiencing financial difficulties due to COVID-19 and would like to access your savings, please complete a contact form on our contact page.

 

We will then contact you to see how we can help.

Will I still get my bonus if I don't make all my payments?
A

If you have an account which requires you to make a payment every month in order to get a bonus - for example, our Christmas Saver or Saver Plus accounts - you cannot currently pay in to your account in our Branches, as we are only processing essential transactions (withdrawals for food, bills or rent).

 

Where possible, you can make your payments electronically using the details below. If this option is not available to you, please don’t worry – You will still receive your bonus if you resume your payments once lockdown has been lifted. 

 

You can make your monthly deposit by sending a one off payment or setting up a standing order through your bank using the following details:

 

Recipient: Monmouthshire Building Society
Sort Code: 40-05-30
Account Number: 14576608
Reference: The 10 digit account number of the savings account you want to credit - please don't forget this or we'll have to return the funds.

Will you be reducing your savings rates?
A

In response to the Bank of England's decision to decrease the bank rate, on the 28th of May our variable savings rates will decrease.

 

We have written to all members affected, and have highlighted the forthcoming change on our savings webpages.

If you can't find what you're looking for, please submit an enquiry form on our contact page.