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Self Build & Renovation Mortgages

Self Build Mortgage Products from The Melton
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Build your dream home with the Melton’s self-build mortgages. Our self-build mortgages may also be suitable if you are renovating a property. The Melton’s self-build and renovation mortgage makes financing your project simple with funds released in stages.

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Please note, applicants must be a minimum of 25 years of age. Product Fee stated below is the application fee only. A Completion Fee, a percentage of the loan amount, is also payable. We offer a range of self build products but, from time to time, some of these may be temporarily unavailable.

Mortgage Product Maximum Loan to Value Initial Rate Followed by our Standard Variable Rate The overall cost for comparison Product Fees Deposit amount
Melton Standard Self Build 50% 3.49% 4.99% 4.9% APRC £500

Based on a £231,265 mortgage, secured by first charge on your main residential property, repaid on an interest only basis over a 25 year term: 36 monthly payments at a variable rate of 3.49%, (£672.60) £24,213.60. 264 monthly payments at standard variable rate (currently 4.99%), (£961.68) £253,883.52. Valuation fee on property of £320,000, payable when you apply £495 (scale applies). Application fee payable when you apply £500. Completion fee 0.50% of the loan amount payable at time of legal completion £1,156.33. 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 £25. 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 £231,265. Total Amount Payable £512,446.85

Melton Advance Self Build 75% 4.59% 4.99% 5.2% APRC £500
Melton Self Build ECO 75% 4.09% 4.99% 5.0% APRC £500
Family Assist Self Build 75% 4.59% 4.99% 5.1% APRC £500
Short Term Self Build 75% 4.59% n/a 5.1% APRC £500
Melton Standard Self Build 75% 4.59% 4.99% 5.1% APRC £500

As a leading provider of self build and renovation mortgages, we’ve helped many people realise their ambition to build their own dream home.  We understand the entire process from start to finish, so you can rely on the Melton to help.

Self build projects require funds to be made available in stages as the house is being built.  The Melton is one of a few lenders who will also lend to purchase the land with outline planning permission, as well as releasing funds in advance of each build stage – the Melton Advance Self Build Mortgage.  The Melton also offers a Standard Self Build Mortgage which provides stage payments in arrears, together with an Eco Mortgage with a special discounted rate that recognises investment in energy efficient features.

At the end of your self build project you can transfer to a standard mortgage with the Society without incurring early repayment charges.  You can also pay a lump sum off at the end of the build when you complete a scheme transfer and the Society will waive the early repayment charges. This is particularly helpful for customers who may have savings they had kept aside for contingency for the build or if they have reclaimed VAT at the end of the self build project that they want to use to reduce the mortgage balance.

You can also have the mortgage on an interest only basis during the build – this is particularly helpful if living in rented accommodation during the build or if choosing to stay in existing housing with a monthly mortgage payment.  Our self build and renovation mortgages may also be suitable for conversions.