Brilliant Solutions

Melton BS Product Update

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. 

BTL & PT Update

Good afternoon,

We’ve made some changes to our Buy to Let product range and are withdrawing our consumer Buy to Let products. Please also note that on the new product code BTL 093 5 Year Fixed Rate, there is a completion fee of £999.

Effective 31 July 2020, the following Buy to Let products will be launched:-

Withdrawn products
BTL 073 (initial pay rate 2.49%)
BTL 084 (initial pay rate 2.19%)
BTL 085 (initial pay rate 2.49%)
BTL 086 (initial pay rate 2.49%)
BTL 088 (initial pay rate 2.55%)
BTL 090 (initial pay rate 2.79%)
BTL 091 (initial pay rate 3.09%)

Also effective 31 July 2020, the following new Buy to Let products will be launched:-

Buy to Let 
BTL 092 – 3.19% Holiday Buy to Let 2 Year Fixed. App Fee £199 / Comp Fee £399.2 years ERCs.
BTL 093 – 2.05% Business Buy to Let 5 Year Fixed. Comp Fee £999. Reduced minimum loan size £200k. 5 years ERCs.
BTL 094 – 1.99% Business Buy to Let 2 Year Discounted. App Fee £199 / Comp Fee £399. 2 years ERCs.

Outstanding applications will be given a deadline of close of business on Friday 31st July 2020 for submission.

Outstanding applications will be given a deadline of close of business on Friday 31st July 2020 for submission.

Product Transfer Enhancements (MBSL too)

We are enhancing our service by creating an additional submissions channel and giving you the opportunity to generate further business. 

With effect from Monday 3 August 2020, we will accept product transfer applications where a variation is included such as changing the length of the mortgage term and changing the repayment type of the loan.

Any product transfer applications for new or existing interest only mortgages will need to meet our interest only lending criteria and we will require evidence of the repayment strategy.

A proc fee of 0.25% will be paid for all product transfer applications.

Where a customer requires further borrowing on an existing mortgage or transfer of equity, they will need to speak with us directly.

On Monday 3 August our product transfer page will be updated on our website www.themeltonbrokers.co.uk where you will find full details of our products and criteria. If you have any queries please call our Broker Support Team on 01664 414144.

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