YOU SAID, WE DID!

At Melton for Brokers, we have been extremely busy enhancing not only our systems with a new Broker Portal but improving our criteria and service too.

Feedback plays a vital part in ensuring our continuous quest for improvement, so when our brokers talk, we listen – whether it be from our broker surveys or general feedback from conversations with our people, we take on board each and every idea and query.

This month’s blog talks about the enhancements we’ve made of the back off these conversations and how we can help turn more blips into DIPs!
 

Melton’s New Broker Portal from Mast

Let’s first talk about our new Portal – It’s no secret that brokers are busier than ever and a simple, smooth & instinctive system makes lives easier and the application process simpler for all involved.
Our new Portal from Mast has been live since April and although some elements are still in the
build phase, all application journeys are available now and some of the benefits include:

• A simple form on one page that auto-saves
• Live criteria warnings that pop up as you go through the form
• Live packaging requirements depending on the application type
• Direct messaging with the Underwriter
• A payment link to send to the customer
• Auto decision and 24-hour referral time to help us understand those tricky cases where needed

 

Criteria Enhancements

Enquiries are proving to be less & less straight-forward these days and vanilla cases are a rare
flavour in the new normal.
With the Pandemic and then more recently the cost of living crisis, it appears peoples needs and circumstances have changed – some have fallen into difficulty and have some form of adverse, whereas others have had a career change or even started a second job.
Whatever it may be, we as Lenders need be versatile and have the ability to be agile – which is a key focus of ours at Melton Building Society.
So, what have you as brokers ‘said’ we should do, that we have now ‘done’?

• Increased our maximum loan size across all LTV bands
• Introduced a residential large loans range up to £2.5m (max 75% LTV)
• Launched an ERC free self-build product
• Reduced our minimum loan for Shared Ownership cases to £75k
• Increased BTL leasehold LTV from 60% to 75% LTV
• Reduced our BTL stress rate to help with affordability
• Made Interest Only available on fixed-rate products

 
These small tweaks to criteria and latest product launches compliment our already diverse range of niche criteria and innovative products.
 

So why use Melton Building Society?

Product Ranges	Criteria Niches
Residential up to 95% LTV (inc NB Shared Ownership 95% of share Self-build range up to 75% LTV BTL range including Standard, Holiday, Consumer & Family BTL Credit Repair range up to 70% LTV for secured missed payments, CCJ’s, defaults, IVA/DMP etc	No credit scoring on prime range Manual Underwriting approach Earned income used to age 80 for non-manual job roles FTB/FTL & non-owner occupiers BTL affordability based on rental No min income on Interest-only Self-build direct specialists

Want to know more?
To find out more about our products and criteria, visit our website themeltonbrokers.co.uk and register today for all our latest news and product launches.

Have a case to discuss? Call our dedicated Sales Team on 01664 414144 (option 1).