Melton BS cuts Credit Repair rates by up to 0.49%

Melton Building Society has reduced rates across its range of Credit Repair products by up to 0.49% and is introducing a brand new self build product with no early repayment charges.

Rates have reduced across the Society's entire Credit Repair product range.

The product range, which includes two-year discounted and fixed rates, aims to support applicants that have suffered a period of adverse credit to get their credit back on track and provide long term security through home ownership.

The Society will consider applicants looking to borrow up to 70% LTV whose credit history may include IVAs or debt management plans, CCJs, bankruptcy, repossession, defaults and mortgage arrears.

In addition, the Society is launching a new self build product free of early repayment charges to offer those borrowing to build or renovate their dream home more choice and flexibility.

The standard self build two-year discounted product has a rate of 6.35% and is available up to 75% LTV with a £199 application fee and 0.50% completion fee.

Head of intermediaries, Dan Atkinson, commented: "We’ve listened to feedback from our brokers and we’re delighted to provide new lending options for a range of applicants. We are committed to helping people who do not meet the traditional lending criteria of high street lenders, and hope to provide more borrowers with opportunities to own their own home with our new range of products."