Mortgage News
The Melton cuts rates on high LTVs by up to 50 bps
The Melton has reduced the rates on its high loan to value (LTV) mortgages by up to 50 basis points.
This includes the five-year fixed rate at 90 per cent LTV, which has been reduced from 3.39 per cent to 2.89 per cent. This has an application fee of £199 and a minimum loan amount of £150,000.
The five-year fixed rate at 85 per cent LTV has also been cut from 2.89 per cent to 2.59 per cent. This also has an application fee of £199, while the minimum loan is £100,000.
Neither product is available for lending on new-builds or flats.
Dan Atkinson, head of intermediaries at the Melton, said: “These reductions are great news for first time buyers, particularly when combined with our flexible standard lending criteria.
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“We’re committed to helping first-time buyers get onto the property ladder by ensuring we offer a choice of competitively priced products, combined with lending criteria that supports affordability and today’s varied lifestyles.”