Dudley BS launches expat BTL and holiday let products – Mortgage Strategy
Dudley Building Society has launched expat buy-to-let (BTL) and expat holiday let products.
The lender has also introduced a two-year fixed rate product and an interest only discount for term product to its range.
The new residential two-year fixed rate product offers a fixed rate of 5.59%, with a maximum loan-to-value (LTV) of 90%.
The new interest only discount for term product has a discounted rate of 5.49%, with a maximum LTV of 75%.
In addition, Dudley has reduced interest rates across its existing range of residential, expat residential, BTL and holiday let products.
The new expat BTL and expat holiday let products offer 80% LTV, with a discounted interest rate of 5.89%.
The existing expat residential product has a reduced discounted interest of 5.89%, with the maximum LTV increasing from 80% to 85%.
Other interest rate decreases include the lender’s residential discount for term product, which now offers a discounted rate of 5.29%, down from 6.19%. This product has a maximum LTV of 90%.
The BTL and holiday let discount for term products both offer a discounted rate of 5.79%, down from 7.04%. This product has a maximum LTV of 80%.
Dudley Building Society distribution director Robert Oliver says: “We have seen a sharp increase in enquires for expat BTL mortgages over recent weeks, which prompted us to introduce these new products to enhance our expat offering.”
Oliver adds: “We are also delighted to be reducing interest rates across our whole product range, with products available for applicants with a wide range of requirements.”