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...
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
The Melton received seven accolades last year in four key industry awards – MoneyAge, What Mortgage, Moneyfacts and most recently, the Mortgage Finance Gazette Awards. “We are extremely proud to be recipients of these awards, including winner of Mortgage Provider of the Year in the MoneyAge Awards for the second year in a row,” said...
The Melton has launched a new pound-for-pound remortgage product for business buy to let customers only with a lower interest coverage ratio of 130% of the monthly mortgage interest payment. This product is calculated on an interest only basis using a stressed interest rate of 5.5%. The Melton considers lending to landlords with a portfolio...
Following feedback from brokers, the Melton has increased the LTV on its Consumer, Family and Business Buy to Let products from 60% to 75% making buy to let a viable option for a wide range of customers. The Melton’s buy to let proposition allows landlords a portfolio of up to three properties with a total...
In direct response to customer feedback, the Society has launched a new Short Term Self Build Product with a minimum term of 12 months and maximum term of 5 years, with no ERCs (early repayment charges). This product will be particularly beneficial to customers who may also own a residential property that they wish to...
The Melton has extended its range of self build mortgages with the launch of a new Family Assist Self Build Mortgage. This innovative new product allows parents to provide the deposit and have it returned as a final stage payment on completion of the build, making self build a viable option for a diverse range...
As a direct result of feedback from our broker survey in September, we have implemented a number of changes to improve our service to you. 54% of respondents asked for quicker processing times and an online application system. We’ve provided just that, including a brand new easy to use broker website.
5% minimum deposit Parents allowed on mortgage to support affordability Gifted deposit accepted Share ownership up to 95% loan to share
Our new online end to end mortgage processing system enables you to register, obtain a DIP, submit an application, upload documents and track cases online – all in one easy to access place. Simply register for an online account where you will be able to submit a Decision in Principle (DIP) and a full mortgage...
