The changes follow the recent launch of higher loan-to-value products within the lender's Credit Repair range. Rates have been reduced by up to 0.29%, with extended end dates now running to July 2027 for two-year products and June 2030 for five-year products.
Among the updated products, the 80% LTV two-year fixed rate has been cut to 4.49%, reflecting a 0.10% reduction: this product comes with no application or completion fees and includes £500 cashback.
The 90% LTV two-year fixed rate has been reduced by 0.15% to 5.14%, with a £199 application fee, no completion fee, and also includes £500 cashback. For those seeking a longer-term option, the 90% LTV five-year fixed rate is now 4.74%, a 0.15% decrease, and offers the same fee and cashback structure. Additionally, the 95% LTV five-year fixed rate has been reduced by 0.29% to 5.25%, with a £199 application fee and no completion fee.
Head of product and marketing, Jamie Hyland said of the changes:
“We are delighted to announce further enhancements to our mortgage product range, with these particular changes focusing on our residential product offering.
"As a mutual, Melton Building Society believes strongly in supporting our customers in achieving their homeownership aspirations. We do this by offering fair value lending options, and these reductions reconfirm our commitment to helping as many people as possible realise their dreams of homeownership.”
