Melton BS launches new products for first-time buyers

New shared ownership products are also available

Melton BS launches new products for first-time buyers

Melton Building Society has launched a range of new mortgage products designed to provide first-time buyers with a variety of options.

The mutual’s expanded offering includes new deals for shared ownership and standard residential mortgages, alongside rate reductions to further support homebuyers.

The lender’s two-year residential discounted standard variable rates are priced at 5.60% and 5.65% at 75% and 90% loan-to-values. Both have a £199 application fee.

For its standard residential fixes, 90% LTV rates are 5.99% for the two-year deal and 5.69% for the five-year option. 

Shared ownership fixed rates at 90% LTV are also available, with rates at 6.25% for the two-year product and 5.89% for the five-year offering. Both have a £199 application fee. 

“We are excited to be launching a new shared ownership product range to help customers looking to make the first step onto the property ladder,” said Jamie Hyland, head of product and marketing at Melton Building Society. “We know that affordability is tough at the minute, and we want to make sure first-time buyers have got plenty of options.”

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