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Melton Mowbray opens up 95% LTV range to all homebuyers

Melton Mowbray Building Society has extended its 95 per cent LTV range to include all house purchasers.

The products were previously only available to first-time buyers.

Rates, which include a three-year fixed rate of 5.49 per cent, remain unchanged but the lending criteria has been loosened so that all purchasers, including shared ownership borrowers, will now have access to the 95 per cent LTV products.

Melton Mowbray chief executive Martin Reason says: “There is considerable support for house purchasers with limited deposit availability but this is predominantly directed towards the new build housing sector.

“The Melton’s move towards broadening its product availability recognises that borrowers with a smaller deposit may not necessarily be first-time buyers or wish to restrict their availability to the new build market.”

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