Melton Building Society has cut rates on its 95% loan-to-value products by up to 46 basis points, while introducing a brand new 95% LTV shared ownership deal, both of which are aimed at first-time buyers.  

The mutual has repriced residential five-year 95% LTV fixes to 5.29% from 5.75, with no application fees.  

It also launches a 95% LTV shared ownership offer at 6.00%, also with no application fees.  

Melton Building Society head of product and marketing Jamie Hyland says: “The Building Societies Association have recently published a review into the experiences of FTBs concluding that it’s the most challenging it has been for some time for those looking to escape the rental sector and venture into home ownership.   

“At Melton Building Society we recognise the challenges that FTBs face and as a mutual building society, we are committed to helping those with aspirations of home ownership by providing a broader range of options for FTBs.   

“The addition of our 95% LTV shared ownership product and the reduction on our standard residential products re-affirms our commitment to supporting a range of FTBs achieve their ambitions of home ownership.”