Coronavirus - Help us to help you.

From Monday 1 March 2021 Melton for Brokers will be open Monday to Friday, 9am to 5pm.  Our Lending Team is available 9am to 12pm on Saturdays. Key Temporary Criteria

  • Maximum LTV is 90%
  • We are now accepting new build applications up to max 80% LTV (60% for flats)
  • 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

The Melton for Brokers

THE INFORMATION ON THIS WEBPAGE IS FOR THE USE OF PROFESSIONAL INTERMEDIARIES ONLY
visit: MBS Lending  |  The Melton Building Society

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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.

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