The Melton Building Society has entered the Help to Buy market by launching two products.

The first offering launched is a 75 per cent LTV five-year fix at 2.75 per cent. This deal is for borrowers in England and Wales.

A 55 per cent LTV five-year fix at 2.69 per cent has also been introduced. This product is only for borrowers in London.

Both products are available for purchase or remortgage, include staircasing, and do not have any application or completion fees.

The lender says that for HTB homeowners coming to the end of their interest free period, it will consider equity loan remortgage, capital raising remortgage and remortgage and fully repay equity loans.

The Melton Building Society head of sales and marketing Dan Atkinson says: “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 HTB mortgages also give choice to homeowners coming to the end of their existing HTB scheme who might wish to remortgage to another lender or have the flexibility to pay off part of their equity loan.”