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Monmouthshire Building Society

ABOUT Monmouthshire Building Society

The Monmouthshire Building Society was established in Newport, 1869, to address the needs of the local people. It was founded as a mutual organisation and is still a totally independent regional Building Society.

The Society operates through a network of branch and agency offices covering the M4 corridor from the Severn Bridge in the east, to Swansea in the west.

There is a restriction on those who can apply to become members. The restriction applies beyond a radius of twenty miles from Monmouthshire branch and agency offices.

The Monmouthshire aims to offer a comprehensive range of competitively priced products designed to meet the ongoing needs of its customers in a fast changing world. The Monmouthshire places its customers first and they seek to provide a service which is recognised as being personal, friendly and efficient.

The various different mortgages available at the Monmouthshire are listed below:

Discount
Fixed
Capped
Cashback
New Build
Buy to Let

Some types of mortgage e.g. Fixed and Capped rate mortgages, are only available when market conditions are suitable. Buy to Let mortgages may not always be available.

Monmouthshire Building Society Mortgage Products

Discount mortgages - Mean that you have lower monthly payments in the early years – helpful at a time of high expenditure such as a buying a new home. The rate of interest is variable – it is reduced for a specified period from completion, the discount is typically for periods of 1 to 5 to years. Sometimes the discount is stepped and changes at pre determined times after completion. The interest charged will be at the standard variable home loan rate less the amount of the discount. At the end of the discount period interest will revert to Monmouthshire’s Standard Variable Home Loan rate for the remainder of the life of the mortgage. Fixed rate mortgages - The interest rate is fixed for a set period – you have more security and you can plan your finances with more certainty. Fixed rate periods are typically 1 to 5 years but can be for much longer periods. At the end of the fixed rate period the interest rate will revert to the Standard Variable Home Loan Rate. Tracker Mortgages - These track the Bank of England base rate plus or minus an interest rate margin set by the Society. When the Bank of England base rate falls your monthly payment will fall too. Conversely if it rises your monthly payment will rise too. Interest is calculated daily which reduces the amount of interest you pay when compared to interest calculated on an annual basis.
Capped rate mortgages - Your interest rate won’t go above an agreed level (it is capped) during an agreed period. Should the Standard Variable Home Loan rate fall below the capped rate then your interest rate would also be reduced. At the end of the capped period, the rate reverts to the current Standard Variable Home Loan Rate. Cashback - Monmouthshire offer you a lump sum cashback to help with some of the costs incurred when moving into a new home. New Build - If you are building a new house this scheme offers you a stage payment facility. As the work progresses the funds will be released to you (subject to inspection and pre agreed terms). When the property is finished and occupied by you, the loan will qualify for any incentives on offer for new loans at that time. Buy to Let - You can purchase residential property for letting purposes at competitive interest rates. Arranging a Buy-to-Let mortgage is as easy as a standard mortgage for owner occupation. Should you be interested in a mortgage quotation including those offered by the Monmouthsire Building Society please complete our quick enquiry form. Remortgage - Monmouthsire have considerable experience of the mortgage market and they want to help guide you through the process of changing your lender. Re-mortgage with Monmouthshire and it will provide you with an excellent service and save you money. Improvement & Personal Loans - If you require an additional loan for home improvements or a secured personal loan ask the Monmouthshire. Experienced advisers are on hand to discuss your requirements and fully explain the various options available.

Monmouthshire Building Society Mortgage Products

Discount mortgages - Mean that you have lower monthly payments in the early years – helpful at a time of high expenditure such as a buying a new home.

The rate of interest is variable – it is reduced for a specified period from completion, the discount is typically for periods of 1 to 5 to years.

Sometimes the discount is stepped and changes at pre determined times after completion.

The interest charged will be at the standard variable home loan rate less the amount of the discount.

At the end of the discount period interest will revert to Monmouthshire’s Standard Variable Home Loan rate for the remainder of the life of the mortgage.

Fixed rate mortgages - The interest rate is fixed for a set period – you have more security and you can plan your finances with more certainty.

Fixed rate periods are typically 1 to 5 years but can be for much longer periods. At the end of the fixed rate period the interest rate will revert to the Standard Variable Home Loan Rate.

Tracker Mortgages - These track the Bank of England base rate plus or minus an interest rate margin set by the Society.

When the Bank of England base rate falls your monthly payment will fall too. Conversely if it rises your monthly payment will rise too.

Interest is calculated daily which reduces the amount of interest you pay when compared to interest calculated on an annual basis.

Capped rate mortgages - Your interest rate won’t go above an agreed level (it is capped) during an agreed period.

Should the Standard Variable Home Loan rate fall below the capped rate then your interest rate would also be reduced. At the end of the capped period, the rate reverts to the current Standard Variable Home Loan Rate.

Cashback - Monmouthshire offer you a lump sum cashback to help with some of the costs incurred when moving into a new home.

New Build - If you are building a new house this scheme offers you a stage payment facility. As the work progresses the funds will be released to you (subject to inspection and pre agreed terms).

When the property is finished and occupied by you, the loan will qualify for any incentives on offer for new loans at that time.

Buy to Let - You can purchase residential property for letting purposes at competitive interest rates. Arranging a Buy-to-Let mortgage is as easy as a standard mortgage for owner occupation.

Should you be interested in a mortgage quotation including those offered by the Monmouthsire Building Society please complete our quick enquiry form.

Remortgage - Monmouthsire have considerable experience of the mortgage market and they want to help guide you through the process of changing your lender.

Re-mortgage with Monmouthshire and it will provide you with an excellent service and save you money.

Improvement & Personal Loans - If you require an additional loan for home improvements or a secured personal loan ask the Monmouthshire.

Experienced advisers are on hand to discuss your requirements and fully explain the various options available.

Current Monmouthshire Building Society Mortgage Offers

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