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Coronavirus - Help us to help you

We are working hard to maintain the best service we can for you. As you can imagine our telephone lines are exceptionally busy at the moment. So we are asking for your help too.

In the interests of the health of both our customers and our staff, please avoid visiting our branches unless necessary. Please telephone your local branch direct if you have any queries or to register to use our online services.

To reduce the risk to our branch staff and customers, branch opening hours have temporarily be reduced to 9am - 1pm Monday to Friday and 9am – 12pm Saturdays.

We have also temporarily reduced our telephone opening hours at Principal Office to 9am - 3.30pm Monday to Friday and 9am – 12pm Saturdays. We apologise for any inconvenience this may cause.

Coronavirus Update

We understand that some customers may be worried about the effect that contracting the Coronavirus (COVID-19) could have on their finances, for example due to a drop in income as a result of contracting the virus or because of the measures imposed to stop it spreading. If you have any concerns about how this could affect you and your mortgage, please click here to read the leaflet produced by the Building Societies Association and National Debtline or please get in touch on 01664 414141.

Please click here to see a list of Frequently Asked Questions for our members.

Coronavirus Scams

The Society is aware of fraudsters using the Coronavirus outbreak to try and trick people into parting with their money. Here are four types of fraudulent activity that we are aware of:

  • Sales of ineffective protective face masks
  • Coronavirus-themed phishing emails with malicious links and attachments
  • Fraudsters sending texts and emails pretending to be from the World Health Organisation (WHO) claiming to be able to provide a list of infected people in their area. Please remember to be wary of links and attachments from unsolicited emails and texts and take care not to provide your personal or financial details
  • Posing as employees of a bank or building society. Please click here to read further guidance on how to protect yourself

Thank you for your patience.

The Melton Building Society

Call us on 01664 414141 between 9am and 6pm Monday to Friday and 9am and 12pm on Saturdays
 

Articles from March 2014

Glossary Category:
About The Melton Building Society
Glossary Category:

APRC

April 6 2016

Annual Percentage Rate of Charge (APRC) – The APRC is a single rate that takes into account the costs of setting up the mortgage, the interest rate applied over the mortgage term and how that interest rate is charged (annually, monthly or daily).

Find out more

Binding offer

April 6 2016

Binding offer – The Society will issue a binding offer once the underwriting is complete.

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BoEBR

April 6 2016

Bank of England Base Rate (BoEBR) – This is the rate which is set on a monthly basis by the Monetary Policy Committee (MPC) of the Bank of England and is the rate that it charges for its borrowing.

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CBTL

April 6 2016

Consumer Buy-to-let (CBTL) – This is when you have lived in the property as your main residence or you inherit a property that was a main residence and then due to a change in circumstances you choose to let the property and you receive no other rental income.

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Completion

April 6 2016

Completion – The point at which the mortgage money is released to remortgage your home or to buy your new home. Your solicitor or conveyancer will ensure that ownership is transferred to you.

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Disbursements

April 6 2016

Disbursements – The fees your solicitor has to pay to others on your behalf e.g.Stamp Duty Land Tax, Land Registry fees, search fees.

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Electronic Transfer

April 6 2016

Electronic Transfer – This is the method by which your mortgage advance is paid to your conveyancer, solicitor or existing lender.

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Equity

April 6 2016

Equity – The positive difference between the value of your property and the amount of any outstanding loans secured against it.

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ESIS

April 6 2016

European Standardised Illustration Sheet (ESIS) – This document must be provided to you by law and shows you all the key information you need when choosing a mortgage. You can use it to compare different mortgages with different lenders.

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First legal mortgage

April 6 2016

First legal mortgage – Also known as a first charge mortgage. This means that the loan takes priority over any other borrowing secured on your property. If your property is sold the first charge will be paid off first.

Find out more