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The Melton has reduced rates by up to 50 bps on its Standard, Eco and Short Term Self Build mortgages. With rates starting at 3.49%, self build, custom build, renovation and conversion is increasingly available to a wider range of customers.
“Self-build plays a key role in increasing housing supply and we are committed to making this type of finance more accessible,” says Dan Atkinson, Head of Sales & Marketing, the Melton. “Self build mortgages can seem a little daunting, however, the Melton’s flexible criteria and attention to customers’ specific circumstances means we are able to consider individual cases carefully and support both brokers and clients through the process.
“We lend on a range of construction methods, including Modern Methods of Construction properties, which gives self builders more flexibility with their build projects. We are also one of just a few lenders who will lend to purchase the land with outline planning permission and we offer an interest only option to make the project more affordable during the build. Whilst to encourage and reward investment in energy efficiency, our Eco Mortgage provides a special discounted rate of 3.79%,” concludes Dan Atkinson.
Brokers will find all the information and documents they need to submit a self build application on Society’s website www.themeltonbrokers.co.uk. The Melton’s broker website features an online self build hub to help brokers advise clients on the steps involved. The hub has lots of useful information about the costs and steps involved in self build and renovation projects – from the planning application process, arranging finance and the stage release payments involved.
The Melton provides an online end to end mortgage processing system that enables brokers to register, obtain a DIP, submit an application, upload documents and track cases online – all in one easy to access place. They can also access current service levels, affordability calculators, product guide and lending criteria.