Melton BS launches Credit Repair products with no completion fees

Melton Building Society is now offering selected Credit Repair mortgage products with no completion fees.

By introducing new products without completion fees, some of which can be upwards of £699, the lender hopes to appeal to a wider range of borrowers and remove one of the barriers for those considering a Credit Repair product.

The new two-year fixed rate products start from 6.29% at 80% LTV in Melton's near prime Enhance category. At 75% LTV, two-year fixes are available from 6.44% for near prime, 7.24% in the Credit Assist category, and 7.64% for Credit Recovery products.

All products offer a free basic valuation and are subject to a £199 application fee. 

Head of product and marketing, Jamie Hyland, commented: “We are delighted to introduce these new products to our Credit Repair product range. We believe that these changes will provide options for those that might consider completion fees as a barrier to borrowing.

“As a mutual building society, we’re dedicated to providing fair value lending options for a wide range of applicants, including those with impaired credit. We remain committed to helping those who perhaps do not meet the traditional lending criteria of high street lenders, and we hope these reductions will encourage those who have experienced a financial hiccup to pursue their home ownership ambitions."