The Help to Buy England and Wales product is a five- year fixed rate at 2.75% with no application or completion fees.  The maximum loan-to-value is 75%.

Help to Buy London is also a five-year fix but the rate is 2.69% with no application or completion fees with a maximum LTV of 55%.

For Help to Buy homeowners coming to the end of their interest free period, the Melton will consider Help to Buy remortgage applications in the following scenarios:

• Equity loan remortgage – where the full equity loan remains in situ
• Capital raising remortgage – when staircasing to pay off part of the equity loan
• Remortgage and fully repay equity loan – in line with the society’s standard lending criteria.

Dan Atkinson, head of sales and marketing at the Melton, commented: “Entry into this market reflects our commitment to helping first-time buyers get onto the property ladder and ensuring our customers have relevant, good value options available to them.

“Our Help to Buy mortgages also give choice to homeowners coming to the end of their existing Help to Buy scheme who might wish to remortgage to another lender or have the flexibility to pay off part of their equity loan.”