3 Year Fixed Rate Mortgage (up to 80% LTV*) - F209
The interest rate for this product is fixed for three years, this means you can plan your finances with more certainty. At the end of the fixed rate period the interest rate will revert to our Standard Variable Rate.
For House Purchase
|Period of loan||Rate Payable||Additional Information|
|Months 1-36||2.65% Fixed Rate||£995 Product Fee|
|Month 37 onwards||Standard Variable Rate Currently 4.99%|
|The overall cost for comparison is:||4.6% APR|
Product Code: F209
|Maximum Loan to Value %||The maximum loan to value is 80% across England and Wales.|
|Loan Size||£30,000 to £500,000|
|Repayment Type||Mixed Repayment/Interest only mortgages will be considered. For new borrowers the interest only element cannot exceed 50% LTV. Existing Society borrowers will be allowed to transfer their existing interest only loan if they move house but any additional borrowing must be on a repayment basis. All borrowers will be required to provide evidence of how they intend to repay interest only loans.|
|Early Repayment Charge||During the first 3 years an early repayment charge of 3% of the amount repaid will be incurred. After this period no early repayment charges apply.|
|Overpayments||• Regular overpayments are not permitted during the first 3 years from completion. Regular overpayments are amounts collected with, and in addition to, your monthly mortgage payments. • You may make capital repayments of up to 10% of the original sum borrowed in each of the first 3 years without an early repayment charge. • However, during the first 3 years any additional amount repaid above the 10% permitted will be subject to an Early Repayment Charge of 3% of the amount repaid. Following receipt of a lump sum payment, the amount that you owe, and so the amount of interest you pay, is reduced immediately.|
- *For house purchase, the maximum Loan to Value is the amount of a mortgage loan expressed as a percentage of the purchase price or valuation, whichever is the lower.
- If you move house during the fixed period you may be able to transfer these product terms, up to the amount of this loan. You can only transfer these terms if you occupy the new property and it is within England or Wales. The new loan must complete at the same time you redeem this loan and you must still meet the Society’s lending criteria at that time. An Early Repayment Charge will apply if: you do not take out a new loan with the Society; the new loan does not meet the criteria for this product; or the new loan is for less than this loan.
- Our house purchase products are available to both new and existing borrowers who are looking to move house.
- For loans greater than £500,000 please contact us.
- Mortgage interest is calculated on a daily basis.
- Loans available to persons aged 18 or over and are subject to status and valuation of a suitable property, over which security will be required. All lending will be subject to appraisal of the financial standing of the applicants.
Links to further important information and details of how to apply can be found on the top right-hand-side of this page.
Monmouthshire House, John Frost Square, Newport, NP20 1PX
Tel: 01633 844444
Fax: 01633 844445
Monmouthshire Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register Number: 206052.
Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your home.