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Melton Mowbray Building Society |
The Melton Mowbray Building Society was established in 1875 as a mutual building society. It's aim is the benefit of people in Melton Mowbray and the surrounding area. They offer savings schemes, mortgages and financial advice throughout 4 local branch offices and 11 agency offices. Melton Mowbray are committed to remaining a mutual society as they consider this to be in the best interests of its members. They attempt to ensure that they remain competitive and offer considered impartial advice.
Melton Mowbray is located in the county of Leicestershire, in the heart of the East Midlands. The market town is home to manufacturers, research and educational institutions. London is 105 miles to the south.
Melton Mowbray offers a range of products suitable for each individual's needs, in case you were a first time buyer, moving home or just changing lender . You can choose from the following mortgages:
- Fixed Rate
- Capped Rate
- Discount Rate
- Tracker
Fixed rate: your repayments are constant for a specified period so your repayments will not change even if interest rates rise. Melton Mowbray offer a 3 year fixed rate mortgage period. The remaining term of the mortgage will be set at the standard variable rate. Arrangement fees and an early repayment charge are applicable.
Capped rate: the interest rate of your mortgage is capped, it will remain within a bracket not going below or above agreed rate limits. The mortgage is capped for a set period, Melton Mowbray offer a 5 year capped rate mortgage. The rest of the term will be charged at the standard variable rate. Arrangement fees are applicable. This mortgage has an early repayment charge.
Discount rate: the interest rate you will pay on your mortgage is at a discount for a set time interval. The discount is set for 3 years and the rest of the mortgage term will be charged at the standard variable rate. Arrangement fees are applicable. This mortgage has an early repayment charge.
Tracker: this is set at a variable rate according to the Bank of England Base Rate. Arrangement fees and an early repayment charge are applicable. This type of mortgage also has other offers such as payment holidays.
The maximum loan is 95% of the value of the property for house purchase and 90% for re-mortgages. However, if the property lies outside a 50 mile radius of the Monmouthshire Principal Office a maximum loan value of 75% applies.
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