Melton Building Society

Melton Building Society is a UK building society based in Melton Mowbray, Leicestershire, trading as The Melton Building Society. It lends in mortgages, takes savings deposits, and offers cash ISAs. It does not offer current accounts, credit cards, personal loans or stocks and shares ISAs; its business is mortgages and savings, and its mortgage advice arm, Melton Mortgage Solutions, compares mortgages from other lenders as well as its own¹.

The society is a mutual, which means it is owned by its members rather than shareholders. It is authorised by the Financial Conduct Authority, regulated by the Prudential Regulation Authority as a building society incorporated in the UK, and savings held with it are protected by the Financial Services Compensation Scheme up to £120,000 per person³. Its head office is Mutual House, Leicester Road, Melton Mowbray, Leicestershire LE13 0DB, and its main phone number is 01664 414141⁵.

Mortgages from Melton Building Society

The Melton lends on residential property, including mortgages for buying a home and remortgages, and it is one of the building societies that provide finance for self-build and custom-build projects¹. Its mortgage advisors will work out an affordability budget with you to give an indication of how much you may be able to borrow, and the society suggests setting aside a whole day for property viewings, with six as the suggested maximum in a day, as part of its guidance for people starting out⁹. The society only offers mortgages to people who reside in the United Kingdom¹⁰.

The society states that it is supporting the Mortgage Charter agreed with the government, which sets out extra help lenders can give borrowers who are struggling, and every mortgage page carries the standard warning that your home may be repossessed if you do not keep up repayments on your mortgage¹. For a full picture of how mortgages work, how much deposit you might need and how affordability is assessed, see the guide to mortgages and the guide to buying a home.

Savings accounts and cash ISAs

The Melton's savings range covers the main types of savings account: instant access, limited access and notice accounts, plus accounts for young savers¹². Its cash ISA range comes in three access types: easy access, notice and fixed rate⁶. The society states that it currently only offers cash ISAs, so there is no stocks and shares ISA⁶.

Two rules shape how its cash ISAs work. First, you can only pay into one cash ISA with the Melton in any tax year, which becomes your active cash ISA⁶. Second, several of its current ISA issues do not accept transfers in from other ISA providers, or even from an existing Melton ISA: this applies to the 100 Day Notice Cash ISA Issue 3, the Easy Access ISA Issue 3 and the 30 Day Notice Cash ISA, so if you want to move existing ISA money you would need to check which accounts accept it¹⁴. For how ISAs work, the annual allowance and the rules on transfers, see the guide to ISAs, and for savings accounts generally, the guide to savings.

Building societies as a group are a significant presence in this market: building societies and mutual-owned banks account for 46% of all cash ISA balances as of July 2026¹⁷.

Mortgage advice through Melton Mortgage Solutions and how it is charged

Melton Mortgage Solutions is the society's mortgage advice service. Rather than only offering the Melton's own products, it compares thousands of mortgages from over 90 different lenders to find a deal, and the society's advisors help work out an affordability budget with you first¹.

Advice may cost money. The society states that there may be a fee for mortgage advice and that the actual amount depends on your circumstances; the fee is charged as a percentage of the amount borrowed, up to a stated maximum, with a typical fee published on its own site². The fee basis is disclosed before you proceed, and you can find today's figures on the Melton's own mortgage pages. If advice leads to a mortgage, the lender may also pay commission to the society; the illustration you receive sets out the type and term of the mortgage, the interest rates, the cost of repayments and any fees, so you can see the whole cost before committing².

Mortgage fees and charges: how the tariff works

The Melton publishes a tariff of mortgage charges, effective from 1 January 2026, which lists what it charges for and how much¹⁸. The tariff follows good practice principles used across the industry so that you can compare mortgages from different lenders more easily. It covers items such as valuation fees for purchases and remortgages, which scale with the property's value, a revaluation fee for further advances, a mortgage discharge fee when the loan is repaid, an administration fee for amending the terms of the mortgage contract, and a fee for a transfer of equity¹⁸. The current figures are on the society's own charges page.

A few rules govern how charges behave. Where a charge or fee is added to your mortgage balance, it becomes payable the month after it is added¹⁰. If the society introduces new charges or increases existing ones, it tells you personally at least 30 days before the change comes in¹⁸. The society accepts credit card payments, but only to pay application and valuation fees, not the mortgage itself¹⁸. Charges can also arise if things go wrong: the tariff includes administration fees for legal proceedings and mortgage possession, a fee for a letter before warrant, and variable solicitor's costs regarding arrears, all of which are avoidable by engaging with the society early if payments become difficult¹⁸.

Switching to a new mortgage deal as an existing customer

Existing Melton mortgage customers may be able to switch to a new mortgage product without paying an application fee or early repayment charges, and without legal or valuation fees¹. This is the society's own switching offer, and it is worth asking about before your current deal ends, because staying on a lender's standard rate after a fixed period is usually more expensive than moving to a new deal.

There is also an industry-wide rule that helps here. Under the Mortgage Charter, customers who are up to date with payments can switch to a new mortgage deal with their lender at the end of their existing fixed-rate agreement without a new affordability check¹⁹. That means being up to date with payments matters twice over: it keeps this switching right open, and it keeps you out of the arrears-related charges in the tariff. If your circumstances have changed and a straight product switch would not make payments affordable, the society lists other options, discussed in the section on payment difficulties below.

What happens when a fixed-rate savings account matures

When a fixed-rate savings account reaches the end of its term, the Melton writes to you beforehand with instructions. You then have choices, and how you respond determines what happens to your money²⁰.

Non-ISA customers can register for the society's online portal and submit maturity instructions there, or complete a Maturity Instruction Form sent by post and return it by post or to a branch. ISA customers receive a letter including a Maturity Instruction Form to complete and return²⁰. You can amend your instructions any time up until 5pm the day before your account matures²⁰.

If you do not give instructions, your funds are automatically transferred into the default account outlined in the letter the society sent you²⁰. Where funds are automatically reinvested into the 30 Day Notice account, you may withdraw them without loss of interest or penalty for 30 days after the end of your fixed rate term; after that, 30 days' notice is required for a withdrawal²⁰.

Interest on the society's savings accounts is typically payable annually on 31st March, and can be added to the account, transferred to your bank account, or transferred to an existing Melton savings account²¹.

Paying in, transfers and managing your accounts

To pay money into a Melton savings account from another bank, you send a payment to the society's own bank account, using your Melton account number as the payment reference²⁴. The reference rule has a quirk: if your account number begins with letters, the reference is the digits of your account number with a zero added at the front, so a number in the format GGG1234567ABC becomes 01234567; if your account number is already in the format 12345678, no change is needed²⁴. The name on the payment should be the name of the person who owns the account, including any middle name given when the account was opened, to help the details match²⁴.

Payments must be sent from a UK bank or building society and made in pound sterling; the society states it will not accept payments that are not, which rules out direct international transfers into its accounts¹⁰. As a building society, payments are received through its clearing bank, which can cause a delay, and payments can take up to 24 hours to show in your account. If a payment has still not appeared after 24 hours, the society asks you to get in touch²⁴.

How you open and manage an account depends on the account and on whether you are an existing customer. Existing customers can open and operate accounts such as the Online Instant Access Share Account, the Double Access Saver and the Single Access Saver through the society's online portal; new customers apply by post or in branch, sending an application form with identification and an opening cheque²¹. Notice accounts and young savers accounts have their own terms, and the paying-in details for each are on the society's site¹². For the wider picture on moving money, see the guide to sending money.

Help if you are struggling with mortgage payments

If you are worried about affording your mortgage payments, the society asks you to contact its Mortgage Services Team on 01664 414141¹. It sets out options in two groups. Short-term options include deferred payment, where it may agree to let you defer a payment until a future date; reduced payment; and a temporary move to interest only. Longer-term options include changing your mortgage product, which could reduce your payments; extending the term of the mortgage; and capitalisation of arrears, where arrears are folded into the balance²⁵.

This reflects what lenders generally are expected to do: help if you are struggling, which could include reducing your monthly payments or taking a break from payments for a few months²⁶. Asking early matters, because the society's tariff includes charges for arrears-related administration and legal steps that apply once matters escalate, and because the right to switch to a new deal without a new affordability check depends on being up to date¹⁸. If you feel the society has not followed the rules in how it treats you, Citizens Advice explains how to check whether a financial service has followed the rules and what to do next²⁶. Free, impartial help is available from Citizens Advice, and the guide to debt sets out the wider options.

Complaints, bereavement and power of attorney

You can complain to the Melton in four ways: by visiting a branch, by calling 01664 414141, by writing to the Complaints Department at the society's principal office at Mutual House, Leicester Road, Leicestershire LE13 0DB, or by email to complaints@mmbs.co.uk⁵. The society tries to resolve complaints within three business days of receiving one, and aims to issue a full response within eight weeks, as required by the Financial Conduct Authority⁵. If you are unhappy with the final response, or eight weeks pass without one, you can refer the matter to the Financial Ombudsman Service, which is free.

When an account holder dies, the society asks to be contacted with the deceased's name so the death can be registered on its system, after which accounts are closed. It publishes a step-by-step Guide to Bereavement, available in branches or as a PDF download, covering how to register the death, arranging the funeral and how to deal with the estate²⁷.

For people managing someone else's affairs, the society registers powers of attorney. To register one, it needs the original power of attorney or a certified copy, and identification details for all attorneys. Once registered, this enables an attorney to manage existing accounts as well as open new ones. Powers of attorney can also be added to online accounts once registered with the Office of the Public Guardian, and for lasting powers of attorney registered in England and Wales on or after 1 January 2016, the society accepts an LPA access code to view documents online, with no need for a paper copy²⁸. On fraud, the society has adopted new mandatory industry regulation to help protect customers, and all its branch staff have become a Friend Against Scams; it asks customers to report concerns on 01664 414141²⁹. The guide to scams and fraud explains the wider rules.

How your savings are protected

Money saved with the Melton is protected by the Financial Services Compensation Scheme (FSCS), a government scheme that protects savings held with the society up to the value of £120,000 per person⁷. If the society were to fail, the FSCS would repay eligible depositors up to that limit, and the protection applies across all accounts held with the society in your name, not per account.

The limit is per person per banking licence. The Melton operates under its own authorisation, firm reference number 106184, with the Financial Conduct Authority recording its status as Authorised and its trading name as The Melton Building Society³. It also appears on the Bank of England's Prudential Regulation Authority list of building societies incorporated in the UK⁴. The FCA is the UK's conduct regulator, operating independently from the government, and the PRA forms part of the Bank of England³⁰. You can check the society's status yourself on the FCA Register using its firm reference number. For how the scheme works generally, including joint accounts and temporary high balances, see the guide to consumer protection.