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.
Increase to New Build LTV
With effect from Wednesday 20th October, the Melton will accept applications for new build houses up to 90% LTV. The max LTV for new build flats will remain at 60%
Product Update
With effect from Wednesday 20th October 2021, the Society will launch the following fixed rate mortgage products. We have rolled on most end dates to 30 November 2026 as well as introducing a new 2 year fixed rate shared ownership. Please note that we will also be withdrawing our 2 Year Fixed Rate Holiday Buy to Let.
New Build Properties – also effective 20th October, we will be increasing our max LTV for new build houses to 90% and the max LTV for new build flats remains at 60% LTV.
Standard Residential Fixed Rates
FIX 165 – 2.29% 5 Year Fixed Rate to 30 November 2026, 75% LTV, App fee £199, Fees Assisted Legals, 5 Years’ ERCs, Min loan £25k
FIX 166 – 2.45% 5 Year Fixed Rate to 30 November 2026, 80% LTV, App fee £199, Fees Assisted Legals, 5 Years’ ERCs, Min loan £25k
FIX 167 – 2.59% 5 Year Fixed Rate to 30 November 2026, 85% LTV, App fee £199. Minimum loan amount £100k. 5 Years’ ERCs, Min loan £100k
FIX 168 – 2.89% 5 Year Fixed Rate to 30 November 2026, 90% LTV, App fee £199. 5 Years’ ERCs, Min loan £150k
FIX 169 – 2.49% 3 Year Fixed Rate to 31 January 2025, 90% LTV, No fees. Min loan amount £150k. Fees Assisted Legals – remortgage only.
Shared Ownership
FIX 171 – 3.49% Shared Ownership 2 Year Fixed rate to 31 January 2024, 95% LTS, App Fee £199, Min loan £100k, Free Basic Valuation
Withdrawn Holiday Buy to Let
BTL 114 – 3.49% 2 Year Fixed Holiday Buy to Let, Non Regulated
BTL 115 – 3.49% 2 Year Fixed Holiday Buy to Let, Regulated
Withdrawn Products
FIX 160 (initial pay rate 2.29%)
FIX 159 (initial pay rate 2.45%)
FIX 155 (initial pay rate 2.89%)
FIX 157 (initial pay rate 2.59%)
FIX 162 (initial pay rate 2.49%)
BTL 114 (initial pay rate 3.49%)
BTL 115 (initial pay rate 3.49%)
Outstanding applications will be given a deadline of close of business on Wednesday 20th October 2021 for submission.
For full details of our new products and criteria, please visit our website www.themeltonbrokers.co.uk.