Melton Building Society have announced some forthcoming product changes. See below for details. For current product information, their intermediary website can be accessed here. REMEMBER, you can access the Melton product range using our Direct to Lender mortgage club so do contact us for further information.
Melton Product Update – New Products
Effective Friday 18th December 2020, the following products will be launched.
We are reintroducing our advance self build, where we will lend up to 85% of the land and build costs. We are also introducing two new residential 5 year fixed rate products and will be temporarily withdrawing our holiday BTL product.
Self Build
SB 046 – 4.59% Advance Self Build 3 Year Discounted, 75% LTV, Application Fee £500, Completion Fee 0.75%, 3 Years’ ERCs.
Standard Residential Fixed Rates
FIX 134 – 2.29% 5 Year Fixed Rate to 31 January 2026, 75% LTV, App fee £199, Fees Assisted Legals, 5 Years’ ERCs.
FIX 135 – 2.45% 5 Year Fixed Rate to 31 January 2026, 80% LTV, App fee £199, Fees Assisted Legals, 5 Years’ ERCs.
FIX 136 – 2.99% 5 Year Fixed Rate to 31 January 2026, 85% LTV App fee £199. Minimum loan amount £100k. Not available for new build properties or flats. 5 Years’ ERCs.
FIX 137 – 3.79% 5 Year Fixed Rate to 31 January 2026, 90% LTV App fee £199. Not available for new build properties or flats. Restricted to East Midlands. 5 Years’ ERCs.
Withdrawn Products
BTL 076 (initial pay rate 2.99%)
FIX 130 (initial pay rate 3.79%)
FIX 133 (initial pay rate 2.99%)
Outstanding applications will be given a deadline of close of business on Friday 18th December 2020 for submission.
For full details of our new products and criteria, please visit our website www.themeltonbrokers.co.uk.