Call us on 01664 414141 between 9am and 6pm Monday to Friday and 9am and 12pm on Saturdays

Melton Standard Self Build

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

Funds are released after each build stage has been completed.

Loan to Value (LTV) A variable rate with a 0.10% 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
75% 4.89% 4.99% 5.2% APRC
Scroll for more >

Based on a £210,040 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 4.89%, (£855.91) £30,812.76. 264 monthly payments at standard variable rate (currently 4.99%), (£873.42) £230,582.88. Valuation fee on property of £300,000, payable when you apply £395 (see scale). Application fee payable when you apply £500. Completion fee 0.50% of the loan amount payable at time of legal completion £1,050.20. Reinspection fee of £80 required for each stage release £320. Title Insurance fee payable at the start of the mortgage £77.00. 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 £210,040. Total Amount Payable £474,387.84.

  • Application fee £500, completion fee 0.50% of loan amount
  • Minimum loan amount £150,000.  Maximum loan amount £750,000
  • Maximum Loan to Value (LTV) 75%.  LTV restrictions apply in London - contact us for details.
  • Title Insurance Fee £77.00
  • 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.
Additional features
  • Funds released after each stage has been completed.  Funds limited to £100,000 for any single stage release.
  • Make overpayments of up to 10% of the current balance each year without incurring any early repayment charges
  • 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.
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 - 0.5% of the loan amount.
Title Insurance Fee - £77.00.
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).

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.

Click here for our handy guide to Mortgages Click here for a summary of our Mortgages Join the Wildlife Trust for £10 - Call in to your local branch Mortgage Calculator - Compare our mortgage products and monthly payments

Get In Touch

Call one of our friendly advisors on 01664 414141. Opening hours 9am to 6pm Monday to Friday and 9am to 12pm on Saturday.

Request a Call Back

Leave your details and we will call you back.


Keep up to date with the latest news, products and competitions from the Melton.