It has also gone live with desktop valuations, which will be used to ensure applications proceed through the underwriting process.

Desktop valuations will be available for residential purchases up to 65% LTV and buy-to-let (BTL) remortgages up to 65% LTV.

They will be provided on applications with maximum values of £1m, or £1.5m within the M25.

Desktop evaluations will not be available for new-build properties, and there will be restrictions on some types of flats.

Monmouthshire Building Society’s 65% LTV purchase product range includes: a 2-year discount-rate residential at 1.65%, up to 65% LTV; a 2-year fixed-rate residential at 1.65% up to 65% LTV; and a 5-year fixed-rate residential at 1.75% up to 65% LTV.

Its remortgage products, which all include free valuation and assisted legal fees, include: a 2-year discount-rate residential at 1.75% up to 75% LTV; a 2-year fixed-rate residential at 1.65% up to 65% LTV; a 5-year fixed-rate residential at 1.75% up to 65% LTV; a 2-year fixed-rate residential at 1.75% up to 75% LTV; and a 5-year fixed-rate residential at 1.95% up to 75% LTV.