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Melton may surprise you with their range of mortgages for New Homes.

18 January 2017

The Melton for brokers

The Melton Building Society is committed to helping customers with either buying or building their new home and offer a range of solutions to help you and your customer through the process.

Self Build Mortgages

  • Available for self build, custom build, renovation and conversion
  • Stage payments in advance including to purchase land - up to 85% of land and build costs (subject to max 75% LTV)
  • Interest only available during build period with product transfer available on completion of the build with no ERC's
  • Click here to view their Guide to Self Build which explains the process and gives some useful examples

 

Shared Ownership Mortgages

  • 95% loan to share including new build properties (max 60% LTV for new build flats)
  • Staircasing acceptable including where there is an upper limit
  • Exclusive impaired credit product available to L&G through their subsidiary MBS Lending (max 90% loan to share, 60% LTV and subject to credit score)

 

New Build Mortgages

  • 90% LTV for new build houses
  • Builder deposits accepted up to 5% (deducted from purchase price)
  • Other incentives such as white goods and stamp duty accepted with no restrictions

 

More reasons to choose The Melton

  • Available across England & Wales (max 60% LTV in London)
  • No credit scoring
  • Flexible underwriting and all applications looked at individually

For further information please visit their website where you will find their latest product and criteria guides and have access to their affordability calculator. You can also register and log in to your online account where you can submit a decision in principle, full application and access their document upload and case tracking facility. 

If you have any other questions or enquiries, you can also contact Dan Atkinson, their Business Development Manager, on 07939 488479 or email d.atkinson@mmbs.co.uk


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