The Melton Building Society and its subsidiary MBS Lending will allow brokers to make variations to a client’s mortgage alongside a product transfer.
Where appropriate, brokers will be able to make changes to the length of a mortgage term and change the repayment type.
The update will be effective from today.
Existing customers of the Melton Group can transfer their mortgage up to three months before the end of the term, either direct or through a mortgage broker, with no application or completion fees.
Brokers will receive a 0.25 per cent procurement fee for each product transfer.
Dan Atkinson, head of sales and marketing at the Melton, said: “Allowing brokers to make variations gives them the flexibility to advise clients on the full picture when they are considering a product transfer.
“It also creates an additional submissions channel and valuable further business opportunities for brokers.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
