Legal & General Mortgage Club has announced an updated shared ownership exclusive from the Melton Building Society (MBS).

Club members will have access to MBS’ shared ownership extended exclusive until 31st January 2022. The product has a fixed rate of 3.59% with a loan to sale (LTS) of 95% and loan to value (LTV) of 75%.

The building society has also increased the minimum loan amount to £75,000 and the maximum loan amount to £250,000.

The product has no application or completion fees; however, standard valuation fees apply.

Danny Belton, head of lender relationships at Legal & General Mortgage Club, said: “Regional building societies are increasingly playing a vital role in filling market niches – helping buyers onto the property ladder.

“We’re pleased to offer this revised exclusive from The Melton Building Society, which will undoubtedly provide further support to those buyers who need it most.”