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First-time Buyers

Monmouthshire BS launches 95% LTV deals

paulajohn
Written By:
paulajohn
Posted:
Updated:
09/12/2013

Monmouthshire is the latest building society to launch a new range of higher loan-to-value offers

The mutual society has decided not to participate in the government’s Help to Buy 2 guarantee mortgage scheme, but to offer a range of new deals, available up to 95% loan-to-value (LTV) independently, both directly and through mortgage advisers.

Monmouthshire business development manager Dan Goulding said:

“We have a 95% LTV mortgage which we have had for a while but dealing directly with customers.

“Now the Help to Buy mortgage guarantee scheme has been launched our response is to open up our 95% LTV mortgage to intermediaries. Our products offer particularly good value for customers.”

Monmouthshire’s 95% LTV offering is available both to first-time buyers and home movers.

The mutual has decided to continue its relationship with its existing private insurer rather than take up the government guarantee.

In doing so, it follows the example of Hanley Economic Building Society, which reaffirmed its decision to stay private last month.

Goulding said:

“The mortgage guarantee scheme has a limited life span. We have an established relationship with a private insurer which can continue as long as we want.”

The 95% LTV product is available in the eight postcodes surrounding the mutual’s head office, with four in England and four in Wales.