Compare Mortgage Rates from MBS Lending Against the Market starting at 3.96%

MBS Lending is the specialist lending arm of The Melton Building Society (Melton Mowbray Building Society) based in the East Midlands. While the main society offers standard mortgages, MBS Lending is designed for borrowers with adverse credit or complex situations that do not fit the standard "high street" criteria.

To compare deals you've seen with MBS Lending to products from other lenders across the market you can use our free comparison tool below:

About MBS Lending

Important Distinction: It is crucial not to confuse MBS Lending with Monmouthshire Building Society. Monmouthshire Building Society is a separate Welsh building society that often uses the URL mbs-intermediaries.com, which can be misleading, but they are completely different entities.

MBS Lending Limited was established to help borrowers who may have experienced financial hiccups in the past. It combines the security of a traditional lender with the flexibility of a specialist "sub-prime" or "near-prime" provider.

Their core philosophy is manual underwriting. They do not use automated credit scoring to make decisions. Instead, they look at the individual story behind the credit issues and assess whether the borrower is now back on track.

Mortgage & Finance Products

MBS Lending’s products are specifically designed for credit repair and complex cases in England and Wales.

• Credit Repair / Near Prime:

  • Target Audience: Borrowers with missed payments, defaults, or CCJs (County Court Judgments)

  • Criteria: They typically have different "tiers" of products depending on the severity and recency of the credit issues. For example, they may accept satisfied CCJs up to £6,000 or missed mortgage payments if they occurred over 12 months ago

• Right to Buy:

  • They offer specialist Right to Buy mortgages for council tenants who want to buy their home but have adverse credit that prevents them from using a high-street bank

• Shared Ownership:

  • MBS Lending can sometimes consider Shared Ownership applications for borrowers with less-than-perfect credit, helping them buy a share of a property from a housing association

• Property Types:

  • They are generally flexible on property types, often considering non-standard construction or flats that other lenders might reject, subject to valuation

Pros and Cons of MBS Lending

Here is a balanced overview of choosing MBS Lending for your finance.

Pros:

• Manual Underwriting: If you have a CCJ because of a dispute or a default due to a past error, a human underwriter will listen to the explanation

• Building Society Backing: Being owned by The Melton gives them stability and a more ethical approach than some private equity-backed sub-prime lenders

• Path to Mainstream: Their products are designed to be temporary stepping stones. Once your credit improves, you may be able to switch to The Melton's main "prime" mortgage range

• Right to Buy Support: Very few lenders support Right to Buy applicants with bad credit, making MBS Lending a vital option in this niche

Cons:

• Higher Rates: Because they take on higher risks (adverse credit), their interest rates are significantly higher than standard high-street mortgages

• Intermediary-Only: You typically cannot apply to MBS Lending directly. You must use a professional mortgage broker to access their products.

• Strict Criteria on "Recent" Issues: While they accept bad credit, they usually require you to have been "clear" for a recent period (e.g., no new defaults in the last 3–6 months). They are not a lender for people currently in severe financial crisis

Customer Service and Reviews

As a niche subsidiary, MBS Lending does not have a large volume of separate reviews. However, its parent, The Melton Building Society, generally holds a positive reputation for its personal service.

Brokers often praise the access to decision-makers. Unlike big banks where you are held in a call centre queue, brokers can often speak directly to the underwriting team at Mutual House in Melton Mowbray.

How to Apply

Through a broker: You generally must use a mortgage broker. It is highly recommended to use a specialist adverse credit broker who knows the "Near Prime" market. We can act as an intermediary for you and package your application to MBS Lending, or another lender, on your behalf. Simply get started to speak to a broker with specialist knowledge of bad credit lending.