Coronavirus - Help us to help you.

We have temporarily reduced our opening hours.  From Monday 8 June our Principal Office will be open Monday to Friday, 9am to 6pm and closed on Saturdays. Please be patient with us while we work hard to minimise the impact of COVID-19 on our services. We apologise for any inconvenience this may cause.

Due to unprecedented demand we are extremely busy at the moment and our service levels may be longer than normal.  We apologise for any inconvenience this may cause.

Key Temporary Criteria

  • Maximum LTV is 80%
  • We are now accepting new build applications up to max 80% LTV (60% for flats)
  • We have temporarily withdrawn all shared ownership products
  • 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

 

Thank you for your patience
The Melton for Brokers

THE INFORMATION ON THIS WEBPAGE IS FOR THE USE OF PROFESSIONAL INTERMEDIARIES ONLY

Employed

23/08/2017
  • Applicants must have been employed in their current job for a minimum of 3 months
  • Applicants must have been in continuous employment for a minimum of 12 months in the last 15 months, in the same line of work and having held no more than three jobs in that period
  • Employment within a probationary period will be considered where the applicant has been in continuous employment for the last 12 months and in the same line of work
  • Income paid in cash is not acceptable
  • Income paid in a currency other than £ Sterling is not acceptable
  • Maternity leave:
    • Where applicant is currently on maternity leave, they will be asked of their intentions to return to work. Income based on the response (i.e. full-time, part-time) can be taken into account in considering the application. The applicant(s) must be asked to confirm that the mortgage will remain affordable during the remaining maternity leave period
  • Employment by fixed term contract must have:
    • Been renewed at least once
    • Have at least 3 months to run to renewal
    • Have every chance of being renewed

Verification:

  • Income will be verified in all cases by the most recent 3 monthly (or 6 weekly) consecutive payslips
  • A satisfactory employment reference from the applicant’s current employer (and from previous employer(s) if the applicant has had more than one employer in the last 24 months) is required where the LTV exceeds 75% LTV. References will also be required on lower LTV cases to establish, for instance, whether overtime or other payments are regular and likely to continue. The underwriter has discretion to ask for references as they see fit in relation to any application
  • Hand written documents will not be accepted
  • Three months’ full bank statements, evidencing receipt of salary, must be produced in support of each application

Rental Income:
Rental income must be verified by a letter or reference from an ARLA registered agent, or by reference to a tenancy agreement plus proof of 6 months’ rental income evidenced on bank statements

Service Update

Due to unprecedented demand we are extremely busy at the moment and our service levels may be longer than normal.

We apologise for any inconvenience this may cause.