Melton BS launches new self-employed mortgage product

Melton Building Society has launched a residential mortgage product to support self-employed applicants.

Following a raft of recent changes to its mortgage product range, the Society has now turned its attention to supporting self-employed home buyers.

Available to those with just twelve months trading history, the new two-year fixed rate is offered at 5.25% and is available up to 80% LTV, with applications being subject to a £199 fee. 

Jamie Hyland, head of product and marketing at The Melton, commented: "As a mutual building society, we are continually looking for ways to help address some of the hurdles applicants face on their journey towards home ownership.

"Self-employed applicants currently face the challenge of having to provide two to three years of trading history in order to secure a mortgage. We hope by offering this exclusive product with the requirement of just twelve months trading history that we can support more self-employed buyers with their home ownership aspirations."