From Monday 1 March 2021 Melton for Brokers will be open Monday to Friday, 9am to 5pm. Our Lending Team is available 9am to 12pm on Saturdays. Key Temporary Criteria
Maximum LTV is 90%
We are now accepting new build applications up to max 80% LTV (60% for flats)
We will consider furloughed applicants by referral only. Please contact us to discuss with full details of the circumstances before submitting an application
We are conducting desktop valuations on all applications up to 70% LTV that meet our AVM criteria. These can then progress to offer as normal. Applications above 70% LTV and those that do not meet criteria, will be progressed as far as possible and subject to a physical valuation before a binding offer can be issued. We are now instructing physical valuations in England & Wales
The Melton for Brokers
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Please note our offices will be closing at 12.30pm on 24 December until 9am on 27 December.
We will also be closed on Wednesday 1 January 2020.
Wishing you a very Merry Christmas and a Happy New Year.
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Builders’ and vendors’ deposits of up to 5% of purchase price permitted. Such incentives are to be deducted from the purchase price so that the loan is calculated upon the lower of the discounted purchase price or valuation
Gifted deposits as an incentive from the vendor or other connected person, including builders’ deposits, up to a maximum of 5% of the purchase price are permitted and will be deducted from the purchase price when calculating the loan to value
Parental gifted deposits are acceptable up to a maximum of 50% of the lower of the purchase price or valuation
Gifted equity is considered by referral
In respect of property purchases the source of the deposit must be verified by written confirmation
Deposit from a gift from a family member or other third party, such as a builder, written confirmation of the gift will be required from the donor