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

Family Assist Self Build

self help mortgages
Melton awards 2019

The Melton Family Assist Self Build Mortgage allows parents to provide the deposit and have it returned as a final stage payment on completion of the build, making self build and renovation a great option for first time buyers.  The Family Assist Self Build Mortgage provides stage payments in arrears and is available to purchase the land as well as the build costs. Our mortgages feature a range of solutions for modern families that combine your family’s financial strength to make the most of your circumstances.

Loan to Value (LTV) A variable rate with a 0.40% 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% 4.59% 4.99% 5.2% APRC £500
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Your home may be repossessed if you do not keep up repayments on your mortgage

Based on a £150,000 mortgage, secured by first charge on your main residential property, repaid on an interest only basis over a 25 year term: 36 monthly payments at a variable rate of 4.59%, (£573.75) £20,655. 264 monthly payments at standard variable rate (currently 4.99%), (£623.75) £164,670. Valuation fee on property of £430,000, payable when you apply £410 (scale applies). Application fee payable when you apply £500. Completion fee 0.50% of the loan amount payable at time of legal completion £750. Reinspection fee of £80 required for each stage release £320. Title Insurance fee payable at the start of the mortgage £78.40. Telegraphic Transfer fee of £25 at each stage release £100. Solicitors fees payable to your conveyancer (estimated) £360. Mortgage Discharge Fee payable at the end of your mortgage £150. Loan amount payable at the end of your mortgage £150,000. Total Amount Payable £337,993.40

  • Application fee £500, completion fee 0.50% of loan amount
  • Minimum loan amount £100,000.  Maximum loan amount £250,000
  • Maximum Loan to Value (LTV) 75%.  LTV restrictions apply in London – contact us for details.
  • Title Insurance Fee £78.40
  • 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.
  • Parents can provide the deposit which is then repaid to them as a final stage payment on completion of the build
  • Deposit donor letter required on application confirming that the funds are only repayable on completion of the build, subject to the final end value being 75% or lower
  • Funds released after each stage has been completed.  Funds limited to £100,000 for any single stage release.
  • Make overpayments of up to 10% of the current balance each year without incurring any early repayment charges
  • Option to link to Offset Share account (terms apply)
  • This product is fully portable if the property is sold within the scheme period. Terms apply.

Product Code: SB 031

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.