The Monmouthshire Building Society has launched a new range of two year fixed and discount rate house purchase and remortgage products.

The new products offer rates for loans up to 95% loan to value (LTV).

The Society offers a two year fixed rate house purchase mortgage at 1.31%, with a maximum LTV of 80%. The product is available for house purchase throughout England and Wales, with a £995 product fee which can be added to the loan and a £150 application fee. A 3% early repayment charge also applies.

For those customers looking to switch their mortgage from another lender into a fixed rate deal, the new range also includes a two year fixed rate remortgage at 1.58% with a maximum LTV of 80%, available throughout England and Wales. This deal also features a £995 product fee which can be added to the loan. This product has no application fee and one free standard valuation, although a 3% early repayment charge applies.

The Society’s two year discount product range includes a two year discount rate purchase product at 2.89% which is available with a maximum loan to value of 95%. This product comes with no product fee and a £150 application fee and is available in the Society’s local lending area* which is defined as postcode areas: NP, CF, SA, LD, WR, GL, HR and BS. This product comes with a 2% early repayment charge.

The new range also includes a two year discount rate remortgage at 1.50% with a maximum LTV of 80% which is available throughout England and Wales. This product features a £995 product fee which can be added to the loan. This remortgage product has no application fee and assisted legal fees, although a 2% early repayment charge applies.

Colin Strong, head of lending procurement, said: “The mortgage market is extremely vibrant at the moment, with a great deal of competition which can only mean good things for consumers.

“The Society is committed to being the premium lender in our local area and beyond, and these rates prove just how serious we are about supporting everyone on their home-buying journey – from first home buyers with smaller deposits to customers who are looking to remortgage at some of the most competitive rates on the market right now.”