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Call us on 01664 414141 between 9am and 6pm Monday to Friday and 9am and 12pm on Saturdays
Our mortgages are available through independent mortgage brokers across England and Wales

Melton Standard Self Build

self help mortgages
Melton awards 2019

Funds are released after each build stage has been completed.

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 £25 payable 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 £1,000,000
  • Maximum Loan to Value (LTV) 75%.  LTV restrictions apply in London – contact us for details.
  • Title Insurance Fee £78.40 for loans up to £500,000. Please contact us for a quotation where the loan amount exceeds £500,000
  • 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.
  • 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.

Modern Methods of Construction

The following modern methods of construction property types and cladding systems will be considered for self build lending, subject to satisfactory insurance and new build warranty, along with a full assessment of the demand and future salability:

  • Huf Haus
  • SIPs (structural insulated panels) where the outer skin is masonary, brick, polymer/cement renders or a combination of these
  • Timber frame where the cladding is masonary, brick, polymer/cement renders or a combination of these
  • Light guage metal framing where the cladding is masonary, brick, polymer/cement renders or a combination of these
  • CLT panel (cross laminated timber) where the cladding is masonary, brick, polymer/cement renders or a combination of these

Product Code: SB 038

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.