Melton Building Society and more2life have announced changes to their product ranges.

Melton has reduced rates across their range of buy-to-let (BTL) products by up to 0.55% and will increase their maximum loan limit from £500,000 to £1 million.

The society is offering cash back incentives for the first time within their BTL range.

This will apply to the BTL two-year fixed, 75% loan-to-value (LTV) at 5.15% (previously 5.35%), no application fees, £399 completion fee, £250 cashback.

It also applies to the family BTL two-year fixed, 75% LTV at 5.40% (previously 5.95%), £199 application fee, no completion fee, £500 cashback.

These changes are effective from tomorrow (11 October).

Meanwhile, more2life has reduced its early repayment charge (ERC) on its maxi range of lifetime mortgages from seven to 10 years, effective today.

The range is available to clients aged between 55 and 89 years old and is offered between 18.5% and 49.5% LTVs, among other criteria.

The Maxi Plan also offers downsizing protection after five years if the client wishes to downsize to a property outside of the lender’s criteria they can repay the loan in full without incurring ERCs.