It slashes rates and launches a new self-build product
Melton Building Society has made changes to its mortgage offerings, reducing rates across its credit repair product range by up to 0.49% and launching a new self-build product without early repayment charges.
The mutual said its credit repair range, featuring two-year discounted and fixed rate options, is designed to assist those who have suffered a period of adverse credit in improving their credit status and securing homeownership.
The lender will consider applicants seeking to borrow up to 70% loan-to-value (LTV), even if their credit history includes individual voluntary arrangements (IVAs), debt management plans, county court judgments (CCJs), bankruptcy, repossession, defaults, or mortgage arrears.
Melton Building Society is also introducing a new self-build product that comes with a two-year discounted rate of 6.35%, up to 75% LTV, no early repayment charges, a £199 application fee, and a 0.50% completion fee.
“We’ve listened to feedback from our brokers, and we’re delighted to provide new lending options for a range of applicants,” said Dan Atkinson (pictured), head of intermediaries at Melton Building Society.
“We are committed to helping people who do not meet the traditional lending criteria of high street lenders, and we hope to provide more borrowers with opportunities to own their own home with our new range of products.”
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