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The Melton launches limited tranche of high LTV deals

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  • 11/11/2020
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The Melton launches limited tranche of high LTV deals
The Melton Building Society will be re-entering the high loan to value (LTV) market for a limited time, with a tranche of 85 per cent and 90 per cent mortgages.

 

There will be a five-year fixed at 90 per cent LTV with a rate of 3.79 per cent which is only available to borrowers in the East Midlands area who are purchasing a property.  

There is also five-year fixed at 85 per cent LTV at 3.09 per cent, which will be available to clients who are purchasing or remortgaging. 

Neither product will be available for new builds or flats and the minimum loan amount is £150,000. Both mortgages have an application fee of £199. 

These products will be available from 18 November. 

Dan Atkinson, head of sales and marketing at the Melton, said: “Despite today’s ever changing market we remain committed to providing customers with the best mortgage options. 

“Restricting our 90 per cent LTV product to the East Midlands will give our local customers the opportunity to find the right home and a better chance of securing these rates. 

Although we have to limit these high LTV products to protect our service levels, we hope that by giving brokers advance notice they will have more time to contact clients who may find our products suitable, he added. 

 

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