Mortgages  

New mortgage offer

Newport-based Monmouthshire Building Society has launched a range of two-year fixed-rate mortgage products.

Colin Strong, head of lending procurement, said: “The society has achieved unprecedented success with its previous fixed-rate product launches, with more and more of our customers seeking a fixed-rate deal.

“In response to customer demand, we have revamped our fixed-rate products to further support first-time buyers and those looking to remortgage.”

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Key features

■ The society is offering a two-year fixed-rate house purchase mortgage at 2.25 per cent and a maximum LTV of 60 per cent.

■ Its new range also includes a two-year fixed-rate mortgage at 3.79 per cent with a maximum LTV of 95 per cent available in the society’s local area.

■ For those looking to switch their mortgage from another lender, the society has launched a number of fixed-rate remortgage products, including a two-year fixed-rate offer at 2.70 per cent with an 80 per cent LTV available throughout England and Wales with no product fee.

Adviser view

Jason Gentles, a mortgage specialist at Leeds-based Mortgage Tree, said: “The interest rate on the house purchase mortgage sounds competitive.

“There is definitely a demand for fixed-rate products because people are worried that interest rates are going to go up and they want to make sure they are tied in.”