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  • We have temporarily withdrawn all shared ownership products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

Retirement Interest Only (RIO)

01/04/2019

Max 50% LTV Minimum age 65 at application for all borrowers Affordability assessed on a sole survivor basis for joint applications Leasehold property must have a minimum of 110 years remaining on the lease at application Loans to repay gambling debts will not be accepted Property & Financial Lasting Power of Attorney must be registered...

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Regulated Buy to Let

23/08/2017

Rental Cover & Affordability Gross rental income must cover the mortgage payment (calculated at the Society’s BTL stressed rate on an interest only basis) by a minimum of 145%, calculated after assuming no void periods after taking into account any other borrowings. Evidence of actual or anticipated rental income is obtained by reference to a...

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Right to Buy

15/08/2017

Permitted on selected products only Not available on flats in London The maximum loan considered is 100% of contractual purchase price up to a maximum of 65% LTV (60% in London) Rent paid by housing benefit within the last 12 months is not acceptable

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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...

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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.