The Dudley Building Society has unveiled new buy-to-let products.
New deals from the intermediary only mortgage lender include:
- Two new discounted rate for term products for purchase and remortgage from 3.19% up to 70% LTV (previously 3.99%), 3.49% up to 75% LTV (previously 4.24%)
- Two new three-year fixed rate products for purchase and remortgage from 3.29% up to 70% LTV (previously 4.24%), 3.59% up to 75% (previously 4.49%)
- Two new five-year fixed rate products for purchase and remortgage from 3.59% up to 70% LTV and 3.89% up to 75% LTV
There are no upper age limits and manual underwriting applies.
In addition, there are tiered buy-to-let rental calculations from 125% dependent on LTV (125% for up to 70% LTV and 130% for up to 75% LTV; 140% for flats across all LTVs).
The Dudley lends from £25,000 to £1 million.
Jonathan Moore, head of credit at the Dudley, said: “We have introduced a very strong line up of products for the buy-to-let market that reflects our commitment to the sector. Landlords can choose between discounted rate products where the discount from the SVR lasts for the term of the mortgage or three or five year fixed rate options. Capital repayments of 10% of the advance amount can be made every year, along with interest only and repayment options.
“The buy-to-let market is readjusting to the recent changes to tax relief and our Society has responded with a comprehensive range of attractively priced products, where we have cut rates in some cases by up to 0.8%.
“We are fully committed to the intermediary market and with this range we are offering today’s landlord a particularly well balanced range backed up by individual underwriting which has become a hallmark of our successful distribution strategy.”