The Monmouthshire Building Society was founded in Newport in1869, to serve the needs of the local people. It is a mutual organisation since its foundation, and is still a fully independent regional Building Society. The Society has 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 applied on those who can apply to become members who are beyond a twenty mile radius from Monmouthshire branch and agency offices.

The Monmouthshire puts its customers’ best interest first, and they seek to provide their services in a personal, friendly and efficient manner. In today’s fast changing world The Monmouthshire aims to offer a comprehensive range of products designed to meet the ongoing needs of its customers with a competitive price.

There are various mortgages available on offer at the Monmouthshire:

Discount
Fixed
Capped
Cashback
New Build
Buy to Let

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

Discount mortgages

You’ll have lower monthly payments in the early years. This is helpful at the time of high expenditure, the time when you are buying a new home.
The rate of interest is variable, and 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 convert to Monmouthshire’s Standard Variable Home Loan rate for the remaining mortgage term.

Fixed rate mortgages

The interest rate is fixed for a set period, giving you more security as you monthly payments are predetermined so you can make financial plans ahead of time.
Fixed rate periods are typically 1 to 5 years but can be for much longer periods. At the end of this period the interest rate will convert to the Standard Variable Home Loan Rate.

Tracker Mortgages

Which track the Bank of England base rate, with an interest rate margin set by the Society added to or deducted from the rate.
When the Bank of England base rate falls your monthly payment will fall, and if it rises your monthly payment will rise too.
Interest is calculated daily reducing the amount of interest you pay compared to an annually calculated interest.

Capped rate mortgages

Your interest rate won’t go above an agreed level during an agreed period.
If the Standard Variable Home Loan rate fell below the capped rate then your interest rate would also fall.
At the end of the capped period, the rate relapses to the current Standard Variable Home Loan Rate.

Cashback

Monmouthshire offer you a lump sum cashback that will help you with some of the costs sustained when moving into a new home.

New Build

This loan provides you with a stage payment facility if you are building a new house. The funds will be released to you as the work progresses. This mortgage is subject to inspection and pre agreed terms.
When the home is finished and occupied by you, the loan will be eligible for any incentives on offer for new loans at that time.

Buy to Let

You can purchase residential property with the intention of letting. This is offered at competitive interest rates. For owner occupation arranging a Buy-to-Let mortgage is as easy as a standard mortgage.

Remortgage

Monmouthshire will employ their considerable experience in the mortgage market to help and guide you through the process of changing your lender.
Re-mortgage with Monmouthshire and benefit from an excellent service and big potential of saving money.

Improvement & Personal Loans

Monmouthshire has on offer also an additional loan for home improvements or a secured personal loan.
Experienced advisers are in your reach to discuss your requirements and fully explain the various options available.