Melton Building Society enters Help to Buy market

Michael Lloyd

January 20, 2020

The Melton Building Society has entered the Help to Buy market with the launch of two new Help to Buy mortgages for both purchase and remortgage, including staircasing.

There is a 5-year fix at 2.75% with a maximum LTV of 75% available in England and Wales.

Meanwhile, the Help to Buy London product is a 5-year fix at 2.69% with a maximum LTV of 55%.

Both products have no application or completion fees.

Dan Atkinson, head of sales and marketing at The Melton, said: “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.

“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.”

The society will consider Help to Buy remortgage applications if the full equity remains in situ or for staircasing to repay off part of the equity loan or to remortgage and fully repay the equity loan in line with the society’s standard lending criteria.

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