The Dudley Building Society has launched new buy-to-let products, with four discounted rate and four fixed rate options covering purchase and remortgage.
The intermediary lender has already this year improved criteria, including the scrapping of upper age limits across its whole range.
Product features include:
Discounted rate:
- Up to 70% LTV – 3.99% (1.5% discount from BTL SVR) purchase and remortgage
- Rental coverage 125% for houses / 140% for flats
- Up to 75% LTV – 4.24% (1.25% discount form BTL SVR) purchase and remortgage
- Rental coverage 130% for houses / 140% for flats
Fixed rate:
- Up to 70% LTV – 4.24% (3 year fixed rate) purchase and remortgage
- Rental coverage 125% for houses / 140% for flats
- Up to 75% LTV – 4.49% (3 year fixed rate)) purchase and remortgage
- Rental coverage 130% for houses / 140% for flats
General features:
- £25,000 to £500,000 loan size
- 5-35 year term
- C+I or interest-only
- Free valuation and fee assisted legals for remortgages
Jonathan Moore, the Dudley’s head of credit, said: “These new products provide important funding options for landlords with fixed and discounted rate options. Our maximum loan size on buy-to-let has been increased to £500,000 and with no upper age limits on any of our mortgage range, we believe that we have a range of buy-to-let products which will be very popular with our introducers.”
