Why choose the Melton?

  • No credit scoring
  • Flexible underwriting and cases looked at individually
  • Online DIP & application
  • Available across England and Wales
  • Direct contact with the assessor dealing with your application
  • Dedicated Broker Support Team & BDM
  • Specialist in self build mortgages
  • Long successful track record of handling complex cases
  • We disregard settled adverse credit after four years
  • We have niche criteria & innovative products
  • Credit repair through our subsidiary MBS Lending

Lending Criteria Highlights

  • We can use earned income up to age 80, subject to feasibility of the job role
  • No max age on standard BTL, RIO or retirement apps
  • Family gifted deposits considered up to 50% of purchase price
  • Gifted equity from family considered by referral
  • Invalidity & disability income considered up to 100%
  • Max 4 applicants allowed on application if immediate family members
  • No debt to income ratio
  • Applicants in a probationary period considered
  • Dependants not automatically factored into affordability
  • Stipend income considered
  • Overdrafts with satisfactory conduct not included in affordability
  • No min income for Interest Only

What does the Melton provide?

Residential Mortgages

  • 90% Max LTV purchase & re-mortgage
  • Shared Ownership mortgages – 95% of the share (including new builds) 75% overall LTV
  • New build houses up to 80% LTV
  • New build flats up to 60% LTV
  • Interest only up to 60% LTV
  • Right To Buy 100% of discounted purchase price
  • Second residential up to 75% LTV
  • Retirement Interest Only up to 50% LTV

Buy To Let Mortgages

  • 75% Max LTV
  • Non owner occupiers, first time buyers & first time landlords
  • Standard, Family, Holiday & consumer products available
  • £25k minimum joint income
  • Affordability assessed on rental income alone
  • Max 3 mortgaged properties in a portfolio, including ours

Self-build Mortgages

  • We do self-build direct
  • Up to 75% end max LTV
  • Advanced stage releases
  • We lend to buy land & fund the build
  • Available for custom, renovation & conversion
  • Short term, Standard, Advanced, Short term, Eco & Family Assist
  • No acreage restrictions and some ag-ties considered
  • Interest only allowed throughout duration of the builds
  • Switch to resi rate on completion with no ERCs

Short term Mortgages

  • Term 1-5 years
  • Loans £100k to £750k
  • No ERCs
  • Available for residential & self-build

Credit Repair (MBS Lending)

  • Up to 70% max LTV
  • Residential only
  • Day 1 discharged bankruptcy
  • 2 years repossession
  • Existing IVA/DMP with 6 months satisfactory conduct
  • No registered defaults within the last 3 months
  • Satisfied CCJ’s max £6000 in last 2 years
  • Max 3 missed mortgage payments in the last 12 months (1 in 3 months)

Contact Us

Broker Support: Call 01664 414144 or email brokersupport@mmbs.co.uk

Business Development Manager – Jasmine Smith: Call 07738 312225 or email j.smith@mmbs.co.uk

To see our online hubs, product guide, lending criteria guidelines and for registration / online portal access please visit www.themeltonbrokers.co.uk

For MBS Lending, please visit www.mbslending.co.uk

THE MELTON RE-ENTERS SHARED OWNERSHIP MARKET AND REDUCES 90% PRODUCT RATE

The Melton Building Society has re-entered the shared ownership market with the launch of a new 5 year 3.99% Fixed Rate Shared Ownership product available up to 95% of the purchase price (75% LTV), including for new build.  The Society has also reduced the rate on its Standard Residential 5 year fixed rate product with a 90% LTV from 3.59% to 3.39%.

“We temporarily withdrew our Shared Ownership offering last year to maintain our service levels,” said Dan Atkinson, Head of Intermediaries at the Melton.  “The Melton has long supported first time buyers with a range of shared ownership mortgages and innovative lending criteria to help them get on the housing ladder. Together with our competitively priced high LTV Standard Residential mortgage, we have a great offering for first time buyers.”

The Melton’s broker website, www.themeltonbrokers.co.uk, 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, lending criteria and a Broker Live Chat service.

For further information please contact our BDM Jasmine Smith on 07738 313225 or the Broker Support Team on 01664 414144.