Melton BS removes ERCs from self build products

Melton Building Society has announced enhancements to its self build product range.

The changes, introduced as a direct result of broker and customer feedback, include the removal of early repayment charges across the entire range and the removal of reinspection fees, removing cumbersome and time consuming processes for customers.

Products in the range are available for self build, custom build, renovation, and conversion projects. In addition the funds can be used to purchase the land and fund build costs, subject to full planning permission.

The Society offers lower interest rates for those building energy efficient homes and will lend on an interest-only basis to keep payments low during the build period. 

Dan Atkinson, head of intermediaries at the Melton, said: "We value feedback provided to us from both brokers and customers. We actively seek their opinions to understand feelings towards our products, criteria, system, people and processes to understand where we can make improvements. We are introducing these changes as a direct result of that feedback.

"We are evolving our product range to provide self build products better suited to the needs of today's borrower. We hope that these changes will enable those building or converting their dream home to access funding in a timely manner and reduce the stress of financing their build."