As a vibrant contributor to the Welsh economy, providing a strong boost to the aspirations of first time buyers and those looking to move up the property ladder is a vital part of the Society’s business ethos. By participating in the Welsh Help to Buy Scheme, the Society is strengthening its commitment to both the local housing market and new build home buyers.
Help to Buy - Wales is an initiative that provides shared equity loan assistance to home buyers of new build properties who meet the requirements of the scheme, with funding provided by the Welsh Government. Help to Buy - Wales is available to first time buyers and home movers purchasing a new build home within Wales up to a maximum purchase price of £300,000.
The Help to Buy - Wales scheme is open to borrowers with a minimum 5% deposit, with the Welsh Government contributing up to 20% of the purchase price.
The Society’s new range of Help to Buy - Wales mortgage products includes a 3 year discount rate mortgage at 2.75% with no early repayment charge as well as a 3 year fixed rate product with an initial rate of 2.95%. Both products have a £99 product fee which can be added to the loan.
Monmouthshire Building Society Chief Executive Andrew Lewis commented:
"The Society is pleased to commit to the Help to Buy - Wales scheme since it provides an affordable solution to home ownership for those who may find it difficult to save up for a larger deposit, as well as for existing homeowners who may be looking to move up the property ladder."
"We are proud of the support the Society is able to offer home buyers throughout Wales to help them pursue their dream of home ownership. The addition of our new Help to Buy - Wales mortgage range, allied to our award-winning recognition, affirms the Society’s position as a dynamic and approachable provider of competitive mortgage loans."
