It also improves its eligibility criteria
Dudley Building Society has announced reductions in interest rates across its range of mortgages for expatriates and self-build projects.
The changes affect both fixed and discounted rate mortgages, with significant adjustments to their two-year fixed rates.
For expat residential mortgages, two-year fixed rates now start at 6.45% for loans up to 60% loan-to-value (LTV) and 6.55% for loans up to 85% LTV.
In the buy-to-let category, rates for expats have been set at 6.55% up to 70% LTV and 6.65% for up to 80% LTV. Holiday let mortgages for expats have seen reductions, now offering two-year fixed rates of 6.55% up to 70% LTV and 6.65% up to 80% LTV.
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The lender has also broadened its eligibility criteria, accepting applications from a wide range of countries and allowing income in over 160 different currencies. Applicants can combine income from one foreign currency with income derived in British pounds.
In addition, Dudley Building Society has revised its self-build mortgage offerings. The Self-Build Discount for Term (Advance) rate has been cut to 6.84% for loans up to 80% LTV, and the Self-Build Discount for Term (Arrears) rate is now 6.74% up to the same LTV.
The eco-friendly versions of these products have also seen rate reductions, with the Eco Self-Build Discount for Term (Advance) rate now at 6.64%, and the Eco Self-Build Discount for Term (Arrears) rate at 6.54% for loans up to 80% LTV.
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The mutual said it can provide financing up to £1.5 million for its expatriate residential mortgage range and up to £1 million for its BTL, holiday let, and self-build mortgage products.
“We are delighted to offer brokers access to cheaper expat and self-build mortgages with these latest rate reductions,” said Robert Oliver (pictured), distribution director at Dudley Building Society.
“Brokers can be confident that they will receive a flexible and personalised approach to underwriting when submitting mortgage applications to us. We look forward to assisting even more expat and self-build borrowers with our latest rate reductions.”
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