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  • We have temporarily withdrawn all shared ownership products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

Remortgage

15/08/2017
  • Permitted on properties which have not been subject to sale or remortgage in the preceding six months with the following exceptions:
    • Inherited properties
    • Self-build properties
    • Properties to be renovated
  • Loan purposes considered:
    • £ for £ remortgage
    • Capital raising for home Improvements
    • Capital raising for debt consolidation up to 75% LTV**

** Where a loan is advanced that consolidates other debts, payment will be made directly to the borrower’s creditors to ensure that commitments are repaid.
Where the debt consolidation is greater than 50% of the mortgage, this will need to be referred to us for consideration.

  • Where funds are being raised in addition to any loan being remortgaged and those funds are more than 10% or more of the value of the property, additional checks will be carried out to verify the purpose of that borrowing
  • Where a loan is made for home improvements exceeding £10,000, the details of those home improvements will be verified
  • Loans to raise capital for purposes, other than for home improvement and debt consolidation (e.g. cars, caravans, school fees) may be considered subject to the term of the loan being in line with the expected life of the asset
  • The following types of loan will not be considered:
    • Loans to repay gambling debts
    • Loans for holidays
    • Loans for business purposes
    • Loans for wedding expenses

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.