Our current office opening times - Help us to help you

Our office opening hours are Monday to Friday 9 am – 3 pm and Saturday 9 am to 12pm.
Office telephones will be open Monday to Friday 9 am to 4.30pm.
Our telephone opening hours at Principal Office are 9 am – 6 pm Monday to Friday and 9 am to 12 pm on Saturdays.
Please note visitors to our offices and Principal Office will be required to wear a face covering.
Thank you for your cooperation.

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

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New BTL Fixed Rate with Lower ICR

22/01/2019

For the first time the Melton Building Society has launched a fixed rate buy to let product with a lower interest coverage ratio than its current product range. The new product has a 5 year fixed rate of 2.75% for business buy to let customers with an interest coverage ratio of 145% of the mortgage payment, calculated on an interest only basis at 4%, making the rental income requirement less onerous.  This new product has no application fee and a completion fee of £399.

“Landlords are increasingly looking for longer term fixed rates since they have reached an all time low,” says Dan Atkinson, Head of Sales and Marketing, the Melton. “The combination of a lower ICR calculation and fixed rate on this product makes buy to let from the Melton accessible to a wider range of landlords.”

The Melton offers a range of specialist buy to let mortgage products, including holiday buy to let and family buy to let and the Society accepts first time buyers, first time landlords and non-owner occupiers.  Take a look at our Buy to Let Hub.