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.
“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.”
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
