The reduced rates, which now start at 3.49%, apply to the society’s standard, eco and short-term self-build mortgages, offering finance for customers doing self-build, custom build, renovation and conversion projects.

Dan Atkinson, head of sales and marketing at the Melton, said: “Self-build plays a key role in increasing housing supply and we are committed to making this type of finance more accessible,”

“Self-build mortgages can seem a little daunting, however, the Melton’s flexible criteria and attention to customers’ specific circumstances means we are able to consider individual cases carefully and support both brokers and clients through the process.”

The Melton lends on a range of construction methods, including Modern Methods of Construction properties.

It said it was also one of a few lenders which would lend to purchase the land with outline planning permission and it offered an interest-only option to make the project more affordable during the build.

It also encourages and rewards investment in energy efficiency through its Eco Mortgage, which provides a special discounted rate of 3.79%.