MBS unveils new range of residential products

Jessica Nangle

February 22, 2021

Monmouthshire Building Society (MBS) has launched a range of 5-year fixed rate residential purchase and remortgage products up to 80% LTV.

The society is offering a 5-year fixed rate purchase mortgage at 2.25%, with a maximum LTV of 80%.

This product has an application fee of £150, a product fee of £499 and is available for house purchases throughout England and Wales with a minimum loan size of £40,000 and maximum of £1m.

The society has also launched a 5-year fixed rate remortgage at 1.50%, with a maximum LTV of 50% for existing homeowners looking to switch lenders and secure a long-term mortgage rate.

This product includes one free standard valuation, assisted legal fees, and no application or product fee.

Eve Wilkins, head of distribution at MBS, said: “Fixed rate mortgages continue to be a popular choice providing security for borrowers who want certainty of payment.

“Widening the choice available is a priority for the Society; supporting our broker community who tell us that longer term fixed rates are in demand.

“With the continued economic uncertainty, these products offer Purchase customers long term stability of payments and those who are looking to Remortgage a fantastic long term low rate.

“I am confident these products will be well received and really pleased that we can offer competitive choice via our direct and intermediary channel”

The full list of new products launched can be viewed on the society’s website.

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