Monmouthshire Building Society has expanded the lending area in which mortgage loans of up to 90% loan-to-value will be available.
The new regional lending area will allow the Newport-based building society to increase business levels through offering its existing product ranges to a much wider market.
Andrew Lewis, managing director, said: “I’m excited to see the expansion of the Society’s products to a wider regional lending area, and customers in these new territories will certainly benefit from a wider choice of competitive mortgage products.”
He continued: “The Society was recently commended at the 2016 Moneyfacts Awards in the category of ‘Regional Lending Provider of the Year’, demonstrating our ongoing excellence and the quality of our mortgage products and services, and I look forward to welcoming new customers to our strong and successful regional building society.”
Monmouthshire Building Society’s new regional lending area will offer loans up to 90% LTV within the additional postcode areas of BA, SN, RG, OX, SY and TA, with the expansion being introduced through the Society’s existing broker network and direct channels.
The new regional lending area sits aside the Society’s well-established local lending area**, defined as NP, CF, SA, LD, WR, GL, HR and BS, where a maximum LTV of 95% will be retained in line with their aim to support the local housing market and, in particular, first time buyers.