Legal & General launches semi-exclusive with The Melton

Jake Carter

October 25, 2021

website launch

Legal & General Mortgage Club has launched a semi-exclusive product with Melton Building Society.

The 5-year fixed rate mortgage is available on new-build or second-hand properties up to 90% loan-to-value (LTV).

It is priced at a 2.59% rate until 30 November 2026, and is subject to a £199 application fee, with no completion fee.

The product is suitable for purchasers between the ages of 18 and 80.

Buyers can also use a family gifted deposit or 5% builder gifted deposit.

Danny Belton, head of lender relationships at Legal & General Mortgage Club, said: “Many buyers have suffered credit impairments and broader financial complications throughout the last eighteen months, as a direct result of the pandemic, making today’s development a timely one.

“We remain committed to expanding our offering in the coming months to ensure that advisers can pair every client with a suitable product, no matter their needs.”

Dan Atkinson, head of intermediaries at Melton Building Society, added: “We are proud to expand our distribution network by partnering with one of the UK’s largest adviser communities.

“Our commitment to manual underwriting processes and no credit checks means that we’re able to support a wide range of borrowers with a range of compelling options.

“Today’s step is an important one in our journey to establishing greater financial inclusion.”

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