East Midlands building society The Melton has rolled out a suite of six new mortgage products, including three new fixed-rate products.
Highlights include fixed rates starting as low as 2.49 per cent and other fixes with loan-to-value (LTV) ratios up to 95 per cent.
The Melton’s three-year discounted rate of 2.15 per cent has no application fee and allows customers to switch to a fixed rate at any time, while the new offset product allows up to 100 per cent of the mortgage balance to be offset using an online share account.
Nicola Alvarez, The Melton’s head of new mortgage business, says:
“Customers now have the choice of either fixed rates or discounted variable rate deals which continue to offer benefits such as capital repayment incentives, portability and in some cases, the option to link to an offset share account.”
All of the products are available to the whole of England and Wales and revert to the Society’s standard variable rate, currently 4.99 per cent at the end of the term (with the exception of the Offset Discounted for Term).
| Product | Rate | LTV | APR | APP Fee | Comp Fee | |
| 1. | Three-Year Discount | 3.89% | 95% | 4.9% | £199 | £199 |
| 2. | Fixed to 31/3/2017 | 4.85% | 95% | 5.2% | £199 | £199 |
| 3. | Fixed to 31/12/2018 | 4.99% | 95% | 5.2% | £199 | £199 |
| 4. | Offset Discounted for Term | 2.89% | 75% | 3% | £199 | £599 |
| 5. | Three-Year Discount | 2.15% | 75% | 4.4% | £0 | £499 |
| 6. | Fixed to 30/9/2017 | 2.49% | 75% | 4.5% | £199 | £399 |
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