The mutual, which joined the Intermediary Mortgage Lenders Association (IMLA) in 2022, has reduced credit repair mortgage rates by as much as 0.49 per cent, including its two-year fixed and discounted rates.
These are available up to 70 per cent loan to value (LTV) and the mutual will consider people with various blips such as defaults, bankruptcy and mortgage arrears.
Melton Building Society has also launched a self-build mortgage with no early repayment charges (ERCs).
It has a two-year discounted rate of 6.35 per cent and is available up to 75 per cent LTV. There is a £199 application fee and a 0.5 per cent completion fee.
Dan Atkinson, head of intermediaries at Melton Building Society, said: “We’ve listened to feedback from our brokers and we’re delighted to provide new lending options for a range of applicants.
“We are committed to helping people who do not meet the traditional lending criteria of high street lenders, and hope to provide more borrowers with opportunities to own their own home with our new range of products.”
Bucks BS adds application portal
Buckinghamshire Building Society has introduced an online mortgage application system to streamline the process.
Brokers can submit residential and buy-to-let (BTL) decisions in principle through its platform for the first time, and keep track of applications with real-time updates and notifications.
Claire Askham, head of mortgage sales at Buckinghamshire Building Society, said: “This launch marks a significant milestone in our digital transformation journey, following the recent redesign of our intermediary website, along with the addition of a criteria search tool, events calendar and new affordability calculators.
“Our aim throughout this period of digital change has been to provide a more efficient and enjoyable experience for our broker partners. I believe this latest upgrade will significantly improve the broker journey, particularly with the additional functionality and enhanced case-tracking features.
“We’re constantly exploring ways to improve our systems and processes here at Buckinghamshire Building Society and are looking forward to rolling out more features in the coming months.”
