The Dudley Building Society (DBS) has launched a buy-to-let product aimed at a particular niche servicing among others, expats, the self-employed and older clients.
New mortgages will have the current rate of 3.79% which includes the 1.70% discount for term.
Features include:
- Up to 70% LTV
- Terms up to 40 years
- Joint borrower, sole proprietor
- Flexibility of interest-only, part & part and capital & Interest
- No upper age limits
- Ex pats and self-employed
- No minimum income
- Multi tenanted properties accepted
- Loans up to £1 million
Sam Ward (pictured), DBS’s head of commercial, said: “Dudley Building Society continues to be the most consistent supporter of the intermediary sector and with this launch we are reinforcing our commitment to their landlord customers, especially those, who tend to be disregarded by more mainstream buy-to-let products.”
“We have spent time researching where the buy-to-let sector has so far failed to address the needs of certain classes of landlord and this led us to building a product which seeks to service potential landlords who have been underserved. We are offering a limited tranche to start and from the reaction of our intermediary partners prior to launch, we are expecting an enthusiastic take up.”