Compare Mortgage Rates from Melton Mowbray Building Society Against the Market

About The Melton

The Society lends across England and Wales (though they have strict Loan-to-Value restrictions in London, capping borrowing at 60% LTV). Because they use human underwriters, they excel at complex cases, whether that is a self-employed contractor, a bad credit borrower, or a complex property build.

Mortgage Products

The Melton offers some of the most unique niche products in the UK market.

• First-Time Buyer Innovations:

  • 100% LTV Mortgages: They offer a genuine no-deposit mortgage to help renters get on the ladder, expanding this offering nationwide via brokers in early 2026

  • Delayed Start Mortgages: A unique feature where clients can delay their mortgage payments for up to 3 months after completion (though interest still accrues) to help pay for moving costs or new furniture

  • Track Record Mortgages: Lending to renters who have a proven track record of paying rent but no deposit

• Self-Build Mortgages :

  • The Melton is a heavyweight in the self-build sector

  • They offer advance stage payments (releasing money before each stage of the build is complete), which is crucial for cash flow

  • They allow interest-only payments during the build phase and even allow parents to provide a deposit via a Family Assist structure

• Credit Repair / Near Prime:

  • Through their subsidiary (MBS Lending) and specific credit-assist products, they lend to people with historic arrears, defaults, or small CCJs who have been rejected by the high street

• Buy-to-Let (BTL) & Holiday Lets:

  • No Minimum Income: They do not require a minimum personal income, assessing the loan purely on the rental income

  • Holiday Lets: They are highly active in the UK holiday let market, with no restrictions on the applicant using the property for their own holidays

  • Family BTL: They offer "Regulated BTL allowing you to buy a house specifically to rent to a family member

Pros and Cons of Melton Building Society

Here is a balanced overview of choosing The Melton for your mortgage.

Pros:

• Manual Underwriting: If you have a complex income structure, a recent visa (they now accept mixed-status applicants and foreign nationals without ILR), or a slight credit blip, a human will actually listen to your story

• Self-Build Expertise: They are one of the best lenders in the UK for building your own home, offering highly flexible funding releases

• Zero Deposit Options: Their 100% LTV options are a lifeline for trapped renters

• Age Limits: They will use earned income up to age 80, and have no maximum age limit for standard Buy-to-Let mortgages

Cons:

• London Restrictions: They are very conservative regarding London property, restricting loans to a maximum of 60% LTV within the capital

• Interest Rates: As a specialist lender providing manual underwriting and niche products, their interest rates are generally higher than vanilla high-street banks

• Processing Speed: Human underwriting takes time. Do not expect a mortgage offer in 48 hours; they can be slower than automated lenders

Customer Service and Reviews

• Mortgage Brokers: In the intermediary market, The Melton is highly rated. Brokers praise their Business Development Managers (BDMs) and the underwriters' willingness to discuss quirky cases over the phone

• Direct Consumers: As of late 2025/early 2026, The Melton's Trustpilot score has taken a significant hit. This is almost entirely due to a recent IT/website upgrade for savings accounts. Customers have reported severe difficulties logging in, alongside long wait times and dropped calls when trying to reach customer service to resolve the IT issues

How to Apply

Through a Broker: For Self-Build, Credit Repair, or 100% LTV products, it is highly recommended (and sometimes required) to use a mortgage broker, like ourselves. At Money Helpdesk we have specilalist experience with all different types of mortgage, and as a whole-of-market firm, we know how to package your application to ensure it passes the manual underwriter's desk smoothly, no matter which mortgage lender you choose.

Get started to speak to one of our expert brokers now. 

Direct: You can apply directly for standard residential mortgages via their website or by calling their branch network in Leicestershire.