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Our mortgages are available through independent mortgage brokers across England and Wales

Business Buy to Let – 3 Year Discounted Rate 2.49%

melton buy to let mortgages
mortgage awards 2019
Loan to Value (LTV) A variable rate with 2.50% discount off our standard variable rate (SVR) for 3 years Then changing to our SVR for rest of mortgage term, currently The overall cost for comparison is Product Fees
75% 2.49% 4.99% 4.6% APRC £399
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If you fail to keep up with payments on your mortgage a 'receiver of rent' may be appointed and your rental property, or other property used as security, may be repossessed

Based on a £120,000 mortgage, secured by first charge on the property, repaid on an interest only basis over a 20 year term: 36 monthly payments at a variable rate of 2.49%, (£249.00) £8,964.00. 204 monthly payments at standard variable rate (currently 4.99%), (£499.00) £101,796.00. Valuation fee on property of £261,000 payable when you apply £330 (scale applies). Telegraphic Transfer fee payable when you apply £25. Solicitors fees payable to your conveyancer (estimated) £360. Completion fee payable at time of legal completion £399. Mortgage Discharge Fee payable at the end of your mortgage £150. Loan amount payable at the end of the mortgage £120,000. Total Amount Payable £232,024.00


  • Purchase, remortgage and scheme transfer
  • Repayment methods: capital and interest repayment, interest only or a combination of the two
  • Maximum Loan to Value (LTV) 75%. LTV restrictions apply in London – contact us for details.
  • Maximum loan amount £500,000
  • Maximum term 40 years, minimum term 5 years
  • Minimum rental cover 145% of mortgage repayment (calculated using the Society’s Buy to Let stressed rate on an interest only basis)
  • Completion fee £399
  • An Early Repayment Charge applies if overpayments exceed 10% of the balance at the start of each year, within 3 years of completion: 3% during 1st year; 2% during 2nd year; 1% during 3rd year
  • Subject to personal circumstances meeting Lending Policy.  This product may be withdrawn without notice

Additional Features:

  • No application fee
  • This mortgage is portable
  • Overpayments are permitted up to a maximum of 10% of the balance at the start of each year.

Additional Restrictions to General Buy to Let Terms:

  • Individuals only, at least 25 years old
  • Minimum earned income £25,000 pa
  • Maximum portfolio of 3 properties in mortgage to the Society or other lenders
  • No leasehold properties. We only consider ex local authority houses where at least 40% has been transferred into private ownership
  • No multi-occupancy
  • Tenancy Agreements subject to approval for each amendment, i.e. tenants, rental amount etc, for which a fee of £75 is payable

Product Code: BTL 066

Working out your mortgage budget

It’s a good idea to know approximately how much you’ll have to spend before you start house hunting. The Melton’s mortgage advisors will help work out an affordability budget with you to give you an indication of how much you may be able to borrow.

Saving for your deposit

Opening a savings account can be a good way to save up for your deposit. Take a look at our range of savings accounts.

Finding your first home

Make friends with the agents. Calling and visiting your estate agents regularly will help ensure you’re the first to know when a hot new property hits the market.
Put aside a whole day, and do a number of viewings (six is the suggested maximum). Go on a weekday if you can – estate agents will give you more time than at the weekend.
Take your own pictures. These are much more useful than glossy agents’ shots. Film your visits on your phone, too. That way, you have something to refer back to.

We’re also here to help with:

Home insurance

We offer competitive buildings and contents insurance in partnership with Uinsure. Find out more.