Melton Building Society has announced the nationwide expansion of its 100% LTV mortgage product, previously available exclusively through L&G Club and limited to properties in the East Midlands.
The no deposit mortgage offering is now available to Melton’s entire broker panel and eligible properties across the country.
The product is a five-year fixed rate at 5.99%, with a £199 application fee and £199 cashback upon completion. Applications will be manually underwritten and subject to the Society’s lending criteria, credit assessment, and property valuation standards.
William Bell, mortgage product manager at The Melton, said: "It became clear in the early days of our launch that demand for this product went way beyond our heartland, with enquiries coming in from brokers and borrowers the length and breadth of the country.
"Expanding our 100% LTV mortgage proposition is a natural next step following the success of our initial launch. By broadening distribution and extending coverage across the UK, more first-time buyers can take their first steps towards home ownership and more intermediaries will have a valuable solution in their toolkit."
