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News
Rates Reduced on Fixed Rate Mortgage Scheme Transfers
08/05/2019
The Melton has reduced rates on all its fixed rate scheme transfer products by up to 30 basis points. Existing customers can transfer their mortgage up to three months before the end of the term, either direct with the Melton or through a mortgage broker, with no application or completion fees. “We believe in rewarding...
Learn moreThe Melton Launches RIO Mortgage
02/04/2019
In support of the ever growing demand for later life lending, the Melton Building Society has launched a Retirement Interest Only (RIO) mortgage proposition. Offered through intermediaries, the new product is a 2.99% interest only discounted rate for term up to 50% LTV and is available to customers aged 65 and over. Income must be...
Learn moreNew 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...
Learn moreNew Business Development Manager
22/01/2019
Jasmine Smith has been appointed as Business Development Manager at the Melton Building Society. Jasmine’s role will be dedicated to supporting key account partners as part of the Society’s continued commitment to our broker network. Jasmine joined the Society in July 2017 as a Mortgage Assessor. She previously worked at Oaktree Mortgages in Melton Mowbray....
Learn moreYou said. We did.
31/08/2018
As a direct result of feedback from our broker survey earlier this year, we have made a number of changes to improve our service to you. For example, our product transfer service is now available to intermediaries, we have also changed the way we assess rental income for holiday lets and added a new buy...
Learn moreBuy to Let Just Got Better at the Melton
07/08/2018
We have made a number of enhancements to our buy to let proposition: • Leasehold included – we will now consider leasehold as well as freehold properties for our Buy to Let mortgages up to a max LTV 60%. • Max loan size increased – we’ve increased our max loan size from £250k to £500k...
Learn moreThe Melton Adds Modern Methods of Construction
02/08/2018
The Melton Building Society is further supporting the self build market with a change to its lending criteria to allow lending on Modern Methods of Construction (MMC) properties. The Society will now consider Huf Haus, SIPs, Timber Frame, Light Gauge Metal Framing and CLT Panels as construction types for its standard self build mortgages. “Modern...
Learn moreHelp for Older Borrowers on Interest only Mortgages
16/03/2018
The Melton has launched a new mortgage for borrowers aged 55 and over with an interest only mortgage. This product allows customers to remortgage on a part and part basis up to 75% LTV with a maximum 50% LTV interest only element. This product will allow borrowers to have repayment strategy options at the end...
Learn moreThe Melton Launches Product Transfers
16/03/2018
The Melton has launched a new Product Transfer Service which means brokers can now offer the Melton’s internal scheme transfer mortgage rates to our existing customers. The service is available for both Society and MBS Lending products and the Melton will pay a procuration fee of 0.25% of the loan amount for all fully completed...
Learn moreWhat Mortgage Awards 2018
08/03/2018
We are delighted to receive Highly Commended Awards in the Best Shared Ownership Mortgage Lender category for the second year running and in the Best Local Building Society category.
Thank you to everyone who voted for us!
The Melton’s shared ownership proposition includes:
- 95% loan to share, including new build
- Online submission