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Short Term Self Build

Self Build Mortgage Products from The Melton
Awards we have won for our Mortgages

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 Term Then changing to our SVR for rest of mortgage term, currently The overall cost for comparison is Product Fees
75% 4.59% n/a 5.1% APRC £500
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Your home may be repossessed if you do not keep up repayments on your mortgage

Based on a £212,043 mortgage, secured by first charge on your main residential property, repaid on an interest only basis over a 5 year term: 60 monthly payments at a variable rate of 4.59%, (£811.06) £48,663.60. Valuation fee on property of £282,724 payable when you apply £395 (see scale). Application fee payable when you apply £500. Completion fee 1% of the loan amount payable at time of legal completion £2,120.43. 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 payable when you apply £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 £212,043. Total Amount Payable £264,730.43

  • Application fee £500, completion fee 1% of loan amount
  • Minimum loan amount £100,000.  Maximum loan amount £750,000
  • Minimum term 12 months.  Maximum term 5 years
  • Maximum Loan to Value (LTV) 75%.  LTV restrictions apply in London – contact us for details.
  • Title Insurance Fee £78.40


  • On completion of the build, as evidenced by the Society receiving a final completion certificate, the mortgage may be transferred to another mortgage product within the Society's portfolio (subject to eligibility).
  • Funds released after each stage has been completed.  Funds limited to £100,000 for any single stage release.
  • 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.  Please refer to our Portability Information Sheet.

Product Code: SB 036

Self Build and Renovation Mortgages FAQ's
Can I borrow to purchase land for my Self Build project? We will lend to purchase the land with full planning permission required.
How much can I borrow for my Self Build project? We will lend up to 75% of the build costs.
When can funds be released during my Self Build project? Funds released after each stage has been completed (Subject to a satisfactory reinspection at each stage).
How much of my own funds will be required to start my Self Build project? Sufficient savings required to purchase the land and fund the early stages of the build.
What is the maximum loan I could borrow? Please refer to our product guide for details of minimum and maximum loan amounts.
What interest rate will apply to my Self Build project? Please refer to the product Key Information or Full Product Details.
What fees will be payable? Application fee – £500.00.
Completion fee – 1% of the loan amount.
Title Insurance Fee – £78.40.
Valuation fee (subject to scale).
£80.00 reinspection fee payable at each stage.
Can I offset savings against my Self Build mortgage? The mortgage can be linked with an Offset Share Account (terms and conditions apply).

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.