The Melton’s discounted variable rate mortgages give you a guaranteed discount off our Standard Variable Rate for the duration of the mortgage product, with deposits from as little as 5%. Whereas, a Fixed Rate mortgage can offer certainty and stability for the duration of the fixed rate period.
| Mortgage Product | Maximum Loan to Value | Initial Rate | Followed by our Standard Variable Rate | The overall cost for comparison | Product Fees | Deposit amount |
|---|---|---|---|---|---|---|
| 3 Year Discounted Rate 2.29% | 85% | 2.29% | 4.99% | 4.5% APRC | £398 |  |
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Based on a £130,586 mortgage, secured by first charge on your main residential property, repaid on a repayment basis over a 25 year term: 36 monthly payments at a variable rate of 2.29%, (£501.83) £18,065.88. 324 monthly payments at standard variable rate (currently 4.99%), (£681.58) £220,831.92. Valuation fee on property of £159,400, payable when you apply £240 (scale applies). Application fee payable when you apply £199. Completion fee payable at time of legal completion £199. 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 £240,070.80 |
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| 3 Year Discounted Rate 2.59% | 90% | 2.59% | 4.99% | 4.5% APRC | £398 |  |
| 3.35% 3 Year Fixed Rate | 95% | 3.35% | 4.99% | 4.8% APRC | |
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| 3 Year Discounted Rate 2.79% | 95% | 2.79% | 4.99% | 4.6% APRC |  |
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| Mortgage Product | Maximum Loan to Value | Initial Rate | Followed by our Standard Variable Rate | The overall cost for comparison | Product Fees | Deposit amount |
|---|---|---|---|---|---|---|
| Short Term Finance 4.99% for Term | 60% | 4.99 | n/a | 6.1% APRC | £99 |  |
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Based on a £145,000 mortgage, secured by first charge on your main residential property, repaid on a repayment basis over a 5 year term: 60 monthly payments at standard variable rate of 4.99%, (£2735.66) £164,139.60. Valuation fee on property of £441,584, payable when you apply £410 (see scale). Application fee payable when you apply £99. Completion fee 1.5% of the loan amount payable at time of legal completion £2,175.00. 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 £167,358.60 |
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| Offset Discounted Rate for Term 2.39% | 75% | 2.39% | n/a | 2.6% APRC | £798 |  |
| Standard Variable Rate for Term 4.99% | 75% | 4.99% | n/a | 5.3% APRC | £398 | |
| Remortgage 3 Year Discounted Rate 2.19% | 75% | 2.19% | 4.99% | 4.4% APRC | |
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| Remortgage 3 Year Discounted Rate 1.99% | 75% | 1.99% | 4.99% | 4.4% APRC | |
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| Interest Only Over 55’s – 3 Year Discounted Rate 1.99% | 75% | 1.99% | 4.99% | 4.4% APRC | |
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| 3 Year Discounted Rate 1.99% | 75% | 1.99% | 4.99% | 4.4% APRC | £398 | |
| 2.49% 3 Year Fixed Rate | 75% | 2.49% | 4.99% | 4.2% APRC | |
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| 2.85% Fixed Rate to 31 December 2023 | 75% | 2.85% | 4.99% | 3.9% APRC | £398 | |
Whether you are purchasing a house or looking to move your mortgage from another lender (remortgage), you can select from our range of fixed rate, discounted and low deposit mortgages.
The Melton’s discounted variable rate mortgages give you a guaranteed discount off our Standard Variable Rate for the duration of the mortgage product, with deposits from as little as 5%. Whereas, a Fixed Rate mortgage can offer certainty and stability for the duration of the fixed rate mortgage period.
Take a look at our current mortgages for moving home or moving your mortgage above. If you’re not sure how much you may be able to borrow to purchase your home, you can use our Affordability calculator and use our Mortgage Finder to search our mortgages. To make an appointment with a Mortgage Advisor please call 01664 414141. For further information read our Handy Guide to Remortgaging.
