Monmouthshire Building Society (MBS) has released new Energy Efficient Home Purchase Mortgages in both England and Wales, with fixed rates across 2 and 5-years with a 95% LTV for residential properties with an A rated Energy Performance Certificate.
The Newport based building society has released a short-term 2-year fixed rate at 2.39% with LTV at 95% and a longer 5-year fixed rate at 2.69% with LTV at 95% for both first-time buyers and home movers.
Graham Sumsion, lending operations manager, said: “We are launching rates that support members who are purchasing energy efficient homes. This product launch compliments our pilot on the Society led Valuer Project which sees the Society partner with SERO, Rightmove and RICS to understand how consumers who purchase energy efficient homes may be able to borrow more using a modified affordability assessment.”
Both products are available direct and through the intermediary channel.
- A 2 Year Energy Efficient Home Purchase Mortgage at 2.39% with a maximum LTV of 95% comes with a product fee of £999 and an admin fee of £150. The product is available for residential purchases in England and Wales with a minimum loan size of £40,000 and a maximum loan size of £500,000 for a single property.
- A 5 Year Energy Efficient Home Purchase Mortgage at 2.69% with a maximum LTV of 95% comes with a product fee of £999 and an admin fee of £150. The product is available for residential purchases in England and Wales with a minimum loan size of £40,000 and a maximum loan size of £500,000 for a single property.
