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  • We have temporarily withdrawn all shared ownership products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

Blog Archives

Portfolio

23/08/2017

A maximum portfolio of 3 properties in total in mortgage to the Society or other lenders will be allowable to an individual or connected counterparty. Full details must be obtained from the applicant and details verified, as far as possible, to the loans reported on the credit search The maximum that may be lent to...

Learn more

Property Types

23/08/2017

The following types of property are acceptable as security: Properties in England and Wales only Property with a minimum valuation of £90,000 Leasehold with minimum remaining term on the lease of 70 years at the end of the mortgage term Property in shared ownership Owner occupied private dwelling Acceptable security types: Houses: Detached/semi-detached/terraced/townhouse/bungalow built of...

Learn more

Part and Part combined

23/08/2017

Permitted on specific products – refer to product guide Maximum LTV 75% (60% for interest only part) Minimum equity £175,000 (£250,000 where downsizing is the repayment strategy) Repayment element of a part interest only mortgage can count towards the minimum equity requirement

Learn more

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.