The Dudley Building Society is offering new products for the self employed, along with new discounted and shared ownership mortgages in the second phase of its new product range rollout.
Discounted rates start from 2.69%, with shared ownership rates begin from 3.99% (previously 4.99%).
The Dudley’s self-employed range now starts from 3.49% and self-employed applicants will now be accepted with one year’s accounts.
All remortgage only products come with free assisted legals.
Jonathan Moore, the Dudley’s head of credit, claimed the second phase of the new mortgage range rollout concentrates on “competitive” discounted mortgage rates as well as demonstrating an appetite for shared ownership and improving access to funding for self employed clients.
He said: “Our strategy with the new product range is aimed at addressing particular types of mortgage, such as the discounted range, which now has highly competitive rates but is also backed up by having the initial discount last throughout the term of the mortgage.
“We also wanted to reinforce our commitment to the self employed and those customers looking for shared ownership finance. Although they are different communities, they have tended to be ignored by the bigger lenders and we felt we had an opportunity to demonstrate our support for these borrowers.
“The self employed, who after all are the backbone of the future economy, deserve all the help they can get. This is why we have taken the view that we will be looking for only one year of accounts, rather than the usual three. Demonstrating that they can comfortably afford repayments is more important than having the proviso of a set number of yearly accounts before applying.
“We know that brokers, through whom we generate all of our mortgage business, will be delighted with the changes.”