Dudley Building Society has announced the launch of a range of new five-year fixed-rate mortgage products.
The products are aimed at a wide range of borrowers, including homebuyers, expats, landlords, and holiday let owners.
Its options cater to residential, expat, buy-to-let, and holiday let customers, offering loan to value (LTV) ratios of up to 90%.
The residential five-year fixed rate until 31/12/2029 is available at a rate of 5.28% for loans up to 75% LTV, and 5.34% for loans up to 90% LTV. Both options come with a £999 arrangement fee, and borrowers are allowed to repay up to 10% of the advance amount each year without penalty.
For expat residential mortgages, the five-year fixed rate until 31/12/2029 offers competitive rates of 5.44% for up to 75% LTV and 5.49% for up to 85% LTV, with an arrangement fee of £1,999. Borrowers have the option to choose between capital and interest or interest-only repayment methods, with loans available up to £1.5m on either purchase or remortgage.
The buy-to-let and holiday let five-year fixed rate, also available until 31/12/2029, comes with a rate of 5.38% for loans up to 80% LTV and a £1,499 arrangement fee. These products cater to both capital and interest or interest-only repayment methods, with loans available up to £1m.
For expat buy-to-let and expat holiday let mortgages, the fixed five-year rate until 31/12/2029 offers rates of 5.64% for up to 80% LTV with a £1,999 arrangement fee. Borrowers can repay up to 10% of the advance amount each year without penalty, with loan amounts available up to £1m.
Robert Oliver, distribution director at Dudley Building Society, said: “We are excited to launch our new five-year fixed-rate products, which reflect our understanding of the market and the diverse needs of today’s borrowers.
“We’re helping first-time buyers and those with smaller deposits by offering up to 90% LTV on residential mortgages, and for expat borrowers, we provide the opportunity to invest with minimal upfront capital, whether for residential or buy-to-let purposes. The flexibility to overpay by 10% annually also empowers borrowers to manage their finances and reduce their mortgage balance more effectively.
“These products, combined with our commitment to maintaining high service levels and a manual underwriting process, will continue to support brokers and their clients as they seek competitive and reliable mortgage options.”