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.”