Melton Building Society revises mortgage product range
From the 15th February the Melton Building Society will be reducing rates across their range of Credit Repair products by up to 0.49% and introducing a brand new Self Build product, free of any early repayment charges.
Melton Building Society have reaffirmed their commitment to helping make home ownership aspirations a reality for those who have suffered light to heavy adverse credit by reducing rates across their entire Credit Repair product range.
The product range, which includes 2 year discounted and fixed rates, aims to support applicants that have suffered a period of adverse credit to get their credit back on track and provide long term security through home ownership.
The Society will consider applicants looking to borrow up to 70% LTV whose credit history may include:
- IVAs or Debt Management Plans
- CCJs
- Bankruptcy
- Repossession
- Defaults
- Mortgage arrears
In addition, the Society are launching a new Self Build product free of early repayment charges to offer those borrowing to build or renovate their dream home more choice and flexibility when it comes to their lending. The new product details are as follows:
- Standard Self Build 2 Year Discounted, 6.35%, up to 75% LTV, ERC Free, £199 application fee, 0.50% completion fee
Head of Intermediaries, Dan Atkinson said of the changes:
‘We’ve listened to feedback from our brokers and we’re delighted to provide new lending options for a range of applicants. We are committed to helping people who do not meet the traditional lending criteria of high street lenders, and hope to provide more borrowers with opportunities to own their own home with our new range of products.’
More details of the current product range at the Melton are available on their website themeltonbrokers.co.uk or by contacting the sales team on 01664 414144.