Remortgage 3 Year Discounted Rate 2.19%

A discounted mortgage offers you a discount off the Melton’s Standard Variable Rate for a set period of time. If our Standard Variable Rate changes so will the rate you pay with the guarantee that the discount will remain the same.

Key Information
Next Steps

Loan to Value (LTV)	A variable rate with 2.80% 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
75%	2.19%	4.99%	4.4% APRC

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Your home may be repossessed if you do not keep up repayments on your mortgage

Based on a £145,000 mortgage, secured by first charge on your main residential property, repaid on a repayment basis over an 15 year term: 36 monthly payments at a variable rate of 2.19%, (£264.63) £9,526.68. 144 monthly payments at standard variable rate (currently 4.99%), (£602.96) £86,826.24. Valuation fee on property of £441,584, payable when you apply £410 (scale applies). Telegraphic Transfer fee payable when you apply £25. Solicitors fee 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 £145,000.Total Amount Payable £242,297.92

Terms

This product is for remortgage only
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.
Maxiumum Loan to Value (LTV) 75%. LTV restrictions apply in London – contact us for details.
Maximum loan amount £500,000
Other lending criteria may apply – details available on request

Additional features

No application fee or completion fee. Free valuation up to a maximum of £500k.
£250 cashback – payable at time of legal completion
Make overpayments up to a maximum of 10% of the balance at the start of each year
This mortgage is fully portable if the property is sold within the scheme period (terms apply).
Option to link to Offset Share account

Product Code: DISC 025

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.

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