Monmouthshire launches new BTL ranges

The Society is offering a two year fixed rate buy to let purchase mortgage at 3.74%, with a maximum LTV of 75%. The product has no product fee, and free standard valuation fee.

The range of new products also includes a 60% LTV two year buy to let purchase mortgage at 3.19%, with no product fee and free standard valuation and administration fees.

The two year fixed rate buy to let remortgage range includes a two year fixed rate buy to let remortgage at 3.60% with a 75% LTV, and a 60% LTV product with a two year fixed rate of 2.99%, both of which are available in the Society’s local area only and come with an £840 arrangement fee which can be added to the loan, and a £150 administration fee.

Colin Strong, Head of Lending Procurement, commented:

“The Society is pleased to launch this competitive range of Buy to Let products at a time of renewed confidence in the buy to let sector. The combination of low product fees, competitive interest rates and the added benefit of a free valuation and legal fees in some cases, means that these products will prove very attractive to Buy to Let Landlords.”

The Society has also launched a new range of two year fixed rate house purchase and remortgage products.

It is offering a two year fixed rate house purchase mortgage at 2.19%, with a maximum LTV of 80%. The product is available for house purchase throughout England and Wales, with an £845 product fee which can be added to the loan.

The new range also includes a two year fixed rate house purchase mortgage at 4.75% with a maximum LTV of 95%, available in the Society’s local geographical area. The product has no fee, and free standard valuation, with a £150 administration fee.

The Society's remortgage range includes two 80% LTV fixed rate remortgage products. The first, a two year fixed rate at 2.58% has no product fee, free standard valuation fee, no administration fee and free legal fees; while the other two year fixed rate remortgage product is set at 2.31% with an £845 product fee, free administration fee, free standard valuation fee and free legal fees.

Colin Strong added:

“The vast majority of our customers are seeking a fixed rate deal to tie themselves in to so they can budget and safeguard against any future interest rate rises. It’s understandable that, in this low interest market, our customers are the driving force behind our competitive mortgage product range.