Dudley BS debuts 2-year resi loans, relaunches self-build offers – Mortgage Finance Gazette
Dudley Building Society has launched a range of two-year fixed-rate products and brought back its self-build product range, as it builds mortgage offerings after returning to the market.
The mutual’s new two-year fixed-rate range includes a residential offer, cut by 30 basis points to 5.59%.
It has also introduced two-year fixed-rate deals across its specialist mortgage offerings, which previously had only discount for term products available.
The lender halted new home loans between August and December last year, because it was unable to deal with the “high volume of mortgage applications” at the time.
The business now adds that two-year fixed-rate products are now available across its expat range, with interest rates at 5.89%, and across their standard buy-to-let and holiday let range, with rates at 5.79%.
It has also launched an interest-only two-year fix, with a rate of 5.49%.
The firm’s new discount for term self-build products offers arrears and advance payment options for standard and eco self-builds.
Its self-build range also offers maximum loan-to-values at 85% for the end value and land value.
Its arrears payment products offer discounted rates at 5.99% for standard self-builds, and 5.69% for eco self-builds.
The mutual’s advance payment products offer rates at 6.14% for standard self-builds, and 5.84% for eco self-builds.
Dudley Building Society distribution director Robert Oliver says: “We have introduced our new range of fixed-rate products after seeing demand for fixed-rate products increase significantly over recent weeks.
“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 the needs of these applicants.”
Oliver adds: “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.”