Both products offer a 1.10% discount off the society’s variable rate to a current rate of 3.89% for three years and the remortgage option attracts both free legals and free valuation.
Features include: -
• Free legals and valuation on remortgage option
• Min/max advance - £25000 to £500000
• Max LTV to 90%
• ERC – 3% in first three years
• Term – five to 35 years
• Capital and interest-only
• Overpayments of 10% pa allowed without charge.
Jeremy Wood, chief executive of the Dudley, said: “These are good products for the market we are working in. Not only do they have a high LTV threshold, which will benefit first-time or returning buyers, rates below 4% are particularly to be welcomed.
“For those clients wishing to remortgage, we have aimed to offer attractive terms but with the added value of free legals and a free valuation to keep costs down to the minimum.
“It is worth intermediaries bearing in mind that with a term of up to 35 years and our stance on older lives, these products could provide a crucial lifeline to customers with a sustainable repayment plan who wish to borrow into retirement.”
