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The Melton reduces HTB and credit repair product rates

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  • 24/08/2020
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The Melton reduces HTB and credit repair product rates
The Melton Building Society has reduced rates on its three- and five-year fixed rate Help to Buy products by 0.5 per cent.

 

The range is available for both purchase and remortgage, including staircasing. 

The five-year fixed for England and Wales has a rate of 2.25 per cent for a maximum loan to value (LTV) of 75 per cent. The offering for properties in London has a rate of 2.19 per cent and a maximum LTV of 55 per cent. 

The three-year deal for England and Wales is now 2.15 per cent up to 75 per cent LTV, and the London equivalent is 2.09 per cent up to 55 per cent LTV. 

All products have a £199 application fee. 

Dan Atkinson, head of sales and marketing at the Melton, said: “We are committed to helping first time buyers get onto the property ladder by ensuring we offer a choice of products that support affordability.”  

 

Reduced rates at MBS Lending 

The mutual’s credit repair subsidiary, MBS Lending has also cut rates by 0.5 per cent. 

This includes its near prime enhance two-year discounted product which now has a rate of 2.99 per cent with an application fee of £150 and completion fee of £995.  

This is available up to 70 per cent LTV. 

Atkinson added: “These reductions ensure we continue to offer a choice of credit repair products at competitive prices that deliver great outcomes for our customers.”  

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