Dudley Building Society has launched a range of two-year fixed rate products.
The mutual has also reintroduced its self-build product range, which offers a range of options for self-build applicants, whether they require funds to be released at the start or the end of each build stage. The self-build product range also offers reduced rates for applicants building eco homes.
Their new range of two-year fixed rate products includes a two-year fixed rate residential 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 fixed rate products are now available across the expat range, with interest rates of 5.89%, and across its standard buy-to-let and holiday let range, with rates of 5.79%.
Dudley BS has also launched an interest-only two-year fixed rate product, with a rate of 5.49%.
The Society’s 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 self-build range also offers maximum LTVs of 85% for the end value and land value. The arrears payment products offer discounted rates of 5.99% for standard self-builds, and 5.69% for eco self-builds. The advance payment products offer 6.14% for standard self-builds, and 5.84% for eco self-builds.
Robert Oliver, distribution director at the Dudley, said: “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 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.”