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Right to Buy 3 Year Discounted Rate 1.99%

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Money Age Awards Winner 2016 - Moneyfacts  Award 2016 - Mortgage Finanace Gazette Awards 2017 WINNER

If you apply to the Society for a ‘Fees Assisted Legals’ mortgage, the Society will pay for the basic legal costs in relation to the mortgage.  There will be additional costs that you need to pay together with the cost of any non-standard work that the Society’s solicitors or licensed conveyancers carry out beyond our ordinary checks.  Further information is available upon request – click here.

Loan to Value (LTV) A variable rate with 3.00% discount off our standard variable rate (SVR) for 3 years Then changing to our SVR for rest of mortgage term, currently The overall cost for comparison is
65% 1.99% 4.99% 4.0% APRC
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Based on a £162,440 mortgage, secured by first charge on your main residential property, repaid on a repayment basis over a 15 year term: 36 monthly payments at a variable rate of 1.99%, (£1044.57) £37,604.52. 144 monthly payments at standard variable rate (currently 4.99%), (£1235.99) £177,982.56. Basic Valuation fee on property of £400,000, payable when you apply £360 (see scale). Application fee payable when you apply £199. Completion fee payable at time of legal completion £199. Telegraphic Transfer fee payable when you apply £25. Mortgage Discharge Fee payable at the end of your mortgage £150. Total Amount Payable £216,520.08


  • Right to Buy Purchase only - maximum loan amount £250,000, maximum loan restricted to 100% of discounted purchase price up to a maximum of 65% LTV
  • Repayment method must be capital and interest repayment
  • An Early Repayment Charge applies if overpayments exceed 10% of the balance at the start of each year, within 3 years of completion: 3% during 1st year; 2% during 2nd year; 1% during 3rd year.
  • Application fee £199.
  • Completion fee £199.
  • Other lending criteria may apply – details available on request.

Additional features

  • 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).  Please refer to our Portability Information Sheet.
  • 'Fees Assisted' legal services on a standard purchase or remortgage (terms apply)
  • Option to switch to a Fixed Rate product at any time during the discount period, subject to availability and we will waive the early repayment charge
  • Option to link to Offset Share account up to 20% of current mortgage balance (terms apply)

Full Product Details

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.