Melton Building Society has announced two new mortgages specifically designed to help people buy their first homes.

The mortgages, which allow buyers to borrow up to 80% of the property’s value, offer competitive interest rates and come with no application fees and a free basic valuation. This could be a lifeline for aspiring homeowners struggling to get on the property ladder.

Here’s what’s on offer:

• Two-year fixed rate: 5.15%
• Five-year fixed rate: 4.79%

Dan Atkinson, Head of Intermediaries at Melton Building Society, emphasised the company’s commitment to supporting homeownership:

“As a mutual building society, we are committed to supporting more people with their home ownership aspirations,” he said. “We can do that by offering a wider range of people, a broader choice of good value mortgage products.”

This announcement follows recent changes to the building society’s high loan-to-value (LTV) and buy-to-let mortgage ranges, indicating their proactive approach to meeting customer needs.

Atkinson highlighted their commitment to providing a smooth and customer-friendly experience:

“Alongside our flexible criteria and our new application portal we are working hard to listen to consumers and brokers to serve customer needs and create a positive application experience for consumers and brokers alike.”

These new mortgage products are available to both new and existing customers. If you’re thinking of buying a home, it’s worth considering what Melton Building Society has to offer.