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Coronavirus - Help us to help you

We are working hard to maintain the best service we can for you. As you can imagine our telephone lines are exceptionally busy at the moment. So we are asking for your help too.

In the interests of the health of both our customers and our staff, please avoid visiting our branches unless necessary. Please telephone your local branch direct if you have any queries or to register to use our online services.

To reduce the risk to our branch staff and customers, from 1st April, branch opening hours will temporarily be reduced to 9am - 12pm Monday to Friday and closed on Saturdays.

We have also temporarily reduced our telephone opening hours at Principal Office to 9am - 3.30pm Monday to Friday and closed on Saturdays.

We apologise for any inconvenience this may cause.

COVID-19 – PROTECT YOURSELF FROM FRAUD

There is some evidence that criminals are attempting to use the current COVID-19 situation as an exploitation opportunity, so please be extra vigilant before clicking on an email about the coronavirus outbreak. If a claim sounds too good to be true, it probably is...

Criminals use exceptional circumstances like the current situation as a chance to pose as employees of a genuine organisation such as building society, bank or police and target you for fraud scams. They may claim they are dealing with coronavirus-related issues that require you to respond by paying money or providing personal information that will allow them to access your account. They often use pressure tactics to stop you thinking about want they want you do for them.

To help you stay protected, here are some things that we will never do:

  • Ask you to disclose your PIN number or other passwords for your accounts
  • Encourage you to move funds from your own account into a different “safe” account
  • Charge up-front fees for repayment holidays
  • Make home visits to collect mortgage arrears on your doorstep
  • Demand an immediate payment of mortgage arrears over the phone
  • Demand payment of mortgage arrears via email providing you with a link through which to make payments.

Please remain vigilant.

Stop – Take a moment to think.
Challenge – Don’t be afraid to ask questions or to say “No” and end the conversation.
Protect – Contact the building society or the bank from which you have made a payment immediately if you think that you have been the victim of fraud.

Coronavirus Update

We understand that some customers may be worried about the effect that contracting the Coronavirus (COVID-19) could have on their finances, for example due to a drop in income as a result of contracting the virus or because of the measures imposed to stop it spreading. If you have any concerns about how this could affect you and your mortgage, please click here to read the leaflet produced by the Building Societies Association and National Debtline or please get in touch on 01664 414141.

Please click here to see a list of Frequently Asked Questions for our members.

The Melton Building Society

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

Fixed Rate Mortgages

Fixed rate mortgages guarantee what you pay over a set period of time. They are a great option if you prefer planning ahead without any unwanted surprises.

With our fixed rate mortgages, you are guaranteed that your rate will be exactly the same every month for the duration of the fixed rate product. It offers peace of mind and takes away any uncertainty about your repayments.

As a result, you can confidently plan your budget, because you’ll know in advance exactly what your outgoings for your mortgage will be.

How do fixed rate mortgages work?

Once you’ve applied and been accepted for a fixed rate mortgage, your payments will stay the same during the term of your product, no matter what happens to mortgage interest rates.

Your mortgage is likely to be your biggest monthly outgoing. Knowing what you’re going to be paying allows you to budget and plan your finances with more certainty. At the end of the fixed rate period, your rate will usually change to our Standard Variable Rate.

Benefits of fixed rate mortgages

  • No surprises – you know exactly what your mortgage will cost you every month
  • Better budgeting
  • Peace of mind

So if you choose a two-year fixed rate, for example, your rate won’t change for the duration of your deal. After this time, you’ll go onto our Standard Variable Rate (SVR) mortgage.

What’s more, if you’re currently with another lender for your fixed rate mortgage, you’ll have the chance to remortgage at the end of your deal.

There are a few things to bear in mind.

Fixed rate mortgages tend to have an Early Repayment Charge if you want to remortgage or repay your mortgage in full during the initial fixed rate period.

Should interest rates drop significantly during the term of your deal, you will still have to make payments at the agreed rate.

However, if you’re not planning on moving for a while, a fixed rate mortgage may be the best deal for you.

Take a look at our current fixed rate mortgages below.

Mortgage Product Maximum Loan to Value Initial Rate Followed by our Standard Variable Rate The overall cost for comparison Product Fees Deposit amount
3.05% Fixed Rate to 31 May 2023 90% 3.05% 4.99% 4.8% APRC

Based on a £171,347 mortgage, secured by first charge on your main residential property, repaid on a repayment basis over a 28 year term: 27 monthly payments at a fixed rate of 3.05%, (£667.04) £18,010.08. 309 monthly payments at standard variable rate (currently 4.99%), (£820.98) £253,682.82. Valuation fee on property of £150,596, payable when you apply £240 (scale applies). 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 £272,467.90.

3.19% Fixed Rate to 31 December 2024 90% 3.19% 4.99% 4.5% APRC
2.75% Fixed Rate to 31 May 2023 80% 2.75% 4.99% 4.7% APRC
2.89% Fixed Rate to 31 December 2024 80% 2.89% 4.99% 4.3% APRC
2.49% 3 Year Fixed Rate 75% 2.49% 4.99% 4.3% APRC
2.65% Fixed Rate to 31 December 2024 75% 2.65% 4.99% 4.0% APRC £398
Mortgage Product Maximum Loan to Value Initial Rate Followed by our Standard Variable Rate The overall cost for comparison Product Fees Deposit amount
2.75% Fixed Rate to 31 May 2023 80% 2.75% 4.99% 4.7% APRC

Based on a £131,092 mortgage, secured by first charge on your main residential property, repaid on a repayment basis over a 30 year term: 27 monthly payments at a fixed rate of 2.75%, (£588.59) £15,891.93. 285 monthly payments at standard variable rate (currently 4.99%), (£737.94) £210,312.90. Valuation fee on property of £167,200, payable when you apply £240 (scale applies). 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 £226,979.83.

2.89% Fixed Rate to 31 December 2024 80% 2.89% 4.99% 4.3% APRC
3.05% Fixed Rate to 31 May 2023 90% 3.05% 4.99% 4.8% APRC
3.19% Fixed Rate to 31 December 2024 90% 3.19% 4.99% 4.5% APRC
Mortgage Product Maximum Loan to Value Initial Rate Followed by our Standard Variable Rate The overall cost for comparison Product Fees Deposit amount
2.49% 3 Year Fixed Rate 75% 2.49% 4.99% 4.3% APRC

Based on a £152,529 mortgage, secured by first charge on your main residential property, repaid on a repayment basis over a 18 year term: 36 monthly payments at a fixed rate of 2.49%, (£876.90) £31,568.40. 180 monthly payments at standard variable rate (currently 4.99%), (£1040.03) £187,205.40. Valuation fee on property of £409,000, payable when you apply £410 (scale applies). 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 £219,718.80.

2.65% Fixed Rate to 31 December 2024 75% 2.65% 4.99% 4.0% APRC £398