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

Shared Ownership – 3.59% Fixed Rate to 28 February 2023

melton shared ownership mortgages
Melton awards 2019

A Shared Ownership mortgage ideal for first time buyers and customers looking for an affordable way of buying a home.

Loan to Value (LTV) A fixed interest rate of 3.59% to 28 February 2023 Then changing to our SVR for rest of mortgage term, currently The overall cost for comparison is
95% 3.59% 4.99% 4.8% APRC
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Your home may be repossessed if you do not keep up repayments on your mortgage

Based on a £97,000 mortgage, secured by first charge on your main residential property, repaid on a repayment basis over a 31 year term: 39 monthly payments at a variable rate of 3.59%, (£432.57) £16,870.23. 333 monthly payments at standard variable rate (currently 4.99%), (£505.96) £168,484.68.  Telegraphic Transfer fee payable when you apply £25. Solicitors fees payable to your conveyancer (estimated) £360. Mortgage Discharge Fee payable at the end of your mortgage £150. Total Amount Payable £185,889.91.


  • Maximum Loan to Value (LTV) 95% of the share being purchased subject to a maximum of 75% of the value of the property for the purpose of staircasing. LTV restrictions apply in London – contact us for details.
  • Repayment method must be capital and interest repayment (not including scheme transfers)
  • An Early Repayment Charge applies if overpayments exceed 10% of the balance at the start of each year, until 28 February 2023: 3% until 28/2/21; 2% until 28/2/22; 1% until 28/2/23
  • Minimum loan amount £75,000, maximum loan amount £250,000
  • Other lending criteria may apply – details available on request.

Additional features

  • Free Basic Valuation
  • No application or completion fee
  • Make overpayments of 10% of the current balance each year without incurring early repayment charges
  • This mortgage is fully portable if the property is sold within the scheme period (terms apply)
  • Option to link to Offset Share account up to 20% of current mortgage balance (terms apply)

Product Code: FIX 093

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.