Melton BS to launch exclusive shared ownership product in the East Midlands

Melton Building Society has made a move to support brokers and applicants within their heartland by launching a new product exclusive to the East Midlands. 

The shared ownership product offers a reduced minimum loan of £50k to better suit the needs of applicants within the area. The product is a 5-year fixed, at 5.00%, 95% LTV. 

It is offered with no application or completion fees and £500 cashback to applicants purchasing in Leicestershire, Lincolnshire, Northamptonshire, Nottinghamshire, Rutland, and Derbyshire.

Head of Intermediaries, Dan Atkinson (pictured) commented: "At Melton Building Society we understand the importance of shared ownership schemes within today’s housing market. Shared ownership properties make home ownership accessible to many who may find a higher deposit or affordability challenging, so it’s important for us as a mutual building society to offer a product range that supports shared ownership applicants.

"We’ve listened to feedback from brokers, to better understand the challenges that shared ownership applicants are facing within our heartland, and as a result, we are delighted to offer this East Midlands Exclusive product to the market.
 
"With nearly 150 years’ experience of helping members to own their own home, we are committed to helping more applicants achieve the long-term stability and peace of mind that comes with home ownership. We are delighted to be able to offer a product that helps more people achieve just that."