It also reintroduces its self-build product range
Dudley Building Society has launched a range of two-year fixed rate products and reintroduced its self-build product range.
The lender’s new range of two-year fixes includes a residential mortgage product, which has a reduced rate of 5.29% from 5.59%. It has also introduced two-year fixed rate products across its specialist mortgage offerings, which previously had only discount for term products available.
Two-year fixes are now available across the mutual’s expat range, with interest rates of 5.89%, and across its standard BTL and holiday let range, with rates of 5.79%. There is also an interest-only two-year fix with a 5.49% rate.
Meanwhile, Dudley’s reintroduced self-build product range offers options for self-build applicants, whether they require funds to be released at the start or at the end of each build stage. The range also features reduced rates for applicants building eco homes.
New discount for term self-build products offer flexible options for applicants, with arrears and advance payment options available for both standard and eco self-builds. The maximum LTV was 85% for the end value and land value.
Arrears payment products offer discounted rates of 5.99% for standard self-builds and 5.69% for eco self-builds, while advance payment products offer 6.14% for standard self-builds and 5.84% for eco self-builds.
The complete list of Dudley’s mortgage products can be viewed online through its website.
“We have introduced our new range of fixed rate products after seeing demand for fixed rate products increase significantly over recent weeks,” Robert Oliver (pictured), distribution director at the Dudley Building Society, said. “The market is changing as applicants look for more stability, and we are focused on ensuring that we are proactive in our approach to meeting needs of these applicants.
“We began welcoming new mortgage applications again back in December of last year, and since then, we have been gradually reintroducing our specialist product offerings. The introduction of our self-build product range forms part of this reintroduction, and we are delighted to be maintaining our flexible approach to the different stages of self-build projects.”
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