Coronavirus - Help us to help you.

We have temporarily reduced our opening hours.  From Monday 8 June our Principal Office will be open Monday to Friday, 9am to 6pm and closed on Saturdays. Please be patient with us while we work hard to minimise the impact of COVID-19 on our services. We apologise for any inconvenience this may cause.

Due to unprecedented demand we are extremely busy at the moment and our service levels may be longer than normal.  We apologise for any inconvenience this may cause.

Key Temporary Criteria

  • Maximum LTV is 80%
  • We are now accepting new build applications up to max 80% LTV (60% for flats)
  • We have temporarily withdrawn all shared ownership products
  • 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

 

Thank you for your patience
The Melton for Brokers

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

The Melton Enters Help to Buy Market

21/01/2020

The Society is entering the Help to Buy market with the launch of two new Help to Buy mortgages for both purchase and remortgage, including staircasing, to support the growing number of first time buyers and existing Help to Buy homeowners who are facing affordability challenges:

• Help to Buy England and Wales – 5 year fixed rate 2.75% with no application or completion fees. Max LTV 75%
• Help to Buy London – 5 year fixed rate 2.69% with no application or completion fees. Max LTV 55%

For Help to Buy homeowners coming to the end of their interest free period, the Melton will consider Help to Buy remortgage applications in the following scenarios:

• Equity loan remortgage – where the full equity loan remains in situ
• Capital raising remortgage – when staircasing to pay off part of the equity loan
• Remortgage and fully repay equity loan – in line with the Society’s standard lending criteria

“Entry into this market reflects our commitment to helping first time buyers get onto the property ladder and ensuring our customers have relevant, good value options available to them,” says Dan Atkinson, Head of Sales and Marketing, the Melton. “Our Help to Buy mortgages also give choice to homeowners coming to the end of their existing Help to Buy scheme who might wish to remortgage to another lender or have the flexibility to pay off part of their equity loan.”

Service Update

Due to unprecedented demand we are extremely busy at the moment and our service levels may be longer than normal.

We apologise for any inconvenience this may cause.