L&G’s shared ownership exclusive with Melton BS updated

Legal & General Mortgage Club members can now access tan updated version of the Melton Building Society shared ownership product until 31st January 2022.

The product has a fixed rate of 3.59 per cent with an loan to sale of 95 per cent and an LTV of 75 per cent.

The building society has increased the minimum loan to £75,000 and the maximum loan has been upped from £150,000 to £250,000.

The product has no application or completion fees, although standard valuation fees apply.

Legal & General Mortgage Club head of lender relationships Danny Belton says: “Regional building societies are increasingly playing a vital role in filling market niches, helping buyers onto the property ladder.

“We’re pleased to offer this revised exclusive from The Melton BS, which will undoubtedly provide further support to those buyers who need it most.”

The original exclusive, which was released in May last year, was a four-year fix at an initial rate of 3.99 per cent, available at 95 per cent LTS and 75 per cent LTV.

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