Melton BS cuts 95% LTV rates by up to 0.46% and expands shared ownership range

The Melton Building Society has reduced rates across its 95% LTV products by up to 0.46% and has introduced a new 95% LTV shared ownership product.

The Society has repriced its residential five-year fixed rate 95% LTV product from 5.75 to 5.29%, with the product continuing to offer no application fees.

The Melton has also expanded its product range to include a 95% LTV shared ownership offering. The new product is priced at 6.00% with no application fees.

Jamie Hyland, head of product and marketing at The Melton, said: “The Building Societies Association have recently published a review into the experiences of first-time buyers, concluding that it’s the most challenging it has been for some time for those looking to escape the rental sector and venture into home ownership.

"At Melton Building Society we recognise the challenges that first-time buyers face and as a mutual building society we are committed to helping those with aspirations of home ownership by providing a broader range of options for first-time buyers.

"The addition of our 95% LTV shared ownership product and the reduction on our standard residential products re-affirms our commitment to supporting a range of first-time buyers achieve their ambitions of home ownership.”