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Monmouthshire Building Society

This society has been in operation for over 140 years and remains committed to operating as a mutual society which means that there are no shareholders and all profits are ploughed back into the products and services on offer. Since its initial loans of £200 and £150 way back in 1869 it has continued to be a savings and home loan provider for the people of Newport and the surrounding areas, some special offers including reductions in the amount of deposit you require are available to customers who are buying in the local area.

The Monmouthshire Building Society has consistently won awards for its products and services, including 5 separate awards during 2009/10.

There are a number of mortgage products available including those that are suitable for first time buyers, house purchasing, re-mortgaging, improvement loans and buy to let investors. If you are purchasing your first home or moving to a new property you can choose from Fixed rate, Tracker or Discount mortgages and offers may last from 2 - 5 years. You can also choose a 2 year fixed rate followed by a lifetime tracker, this means that for the first two years of your mortgage loan you will pay the fixed rate and then move to a guaranteed tracker rate for the remainder of your mortgage, this is different from a Standard Variable Rate as you will agree on the percentage to be paid above the Bank of England base rate. Alternatively you can choose a fixed rate deal that will switch to the Standard Variable Rate at the end of the agreed period.


Monmouthshire Building Society Mortgage Products

Tracker mortgages: This product will follow the Bank of England Base rate rises and falls, it takes the base rate and then adds a percentage, this means that your monthly repayments may vary and could rise or fall. At the end of the agreed period (usually 3 years) you will move to the Standard Variable Rate. Interest is calculated daily and this may affect the overall amount of interest you pay.

Fixed Mortgages: You can borrow between £30,000 and £400,000 over a maximum period of 30 years, the mortgage product is transferable so if you decide to move within the fixed rate period you may usually take the same terms and conditions with you. Check with your advisor before agreeing to the loan if this might be important to you. Rates can be fixed for 2, 3 or 5 years and you will then switch to the Society's Standard Variable Rate.

If you repay your mortgage during the fixed rate period, you will be charged an early repayment fee.

Discount mortgages: You will agree a period of time between 2 and 5 years to receive a discount percentage upon the Society's Standard variable rate. The discount percent will remain the same throughout the agreed timeframe but the Society's Variable rate may go up or down. At the end of this period you will switch to the Standard variable rate.

During the discount period an early Repayment charge will apply, but you are allowed to make overpayments of up to 10% of your balance each year.

If you are interested in a mortgage quotation including those offered by monmouthshire Building Society please complete our quick enquiry form.

Monmouthshire Building Society Mortgage Rates

Mortgage Type Initial Rate Subsequent Rate APR Max LTV Fees & Charges Enquire Now
3yr Tracker Rate 3.09% Variable 4.99% Variable 4.7% 80% £799 Arrangement Fee
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2yr Fixed + Lifetime Tracker 3.99% Variable 2.49% Variable 3.4% 75% £799 Arrangement Fee
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5yr Discount Rate 3.44% Variable 4.99% Variable 4.5% 80% £499 Arrangement Fee
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Speak to a professional about an Monmouthshire Building Society Mortgage