The Dudley Building Society has unveiled three new products through its panel of distributor packagers, including two aimed at clients looking for up to £1 million.
The large loan products include the following features:
- Three-year fixed rate at 3.99% or three-year discounted rate at 3.49% (1.5% discount from SVR)
- Purchase and Remortgage
- Maximum LTV 75%
- Minimum £500,001 to maximum £1 million
- Capital & Interest only
- Term – five to 35 years
- Overpayments of 10% of advance for first three years can be made
- Fixed rate available for properties across England & Wales but discounted product is not available for London and South East.
A new standard discounted rate product has also been made available:
- 3.19% three year discount (1.8% discount from SVR)
- Purchase and remortgage
- Maximum LTV 80%
- Minimum £25,000 to maximum £500,000
- Capital & Interest only
- Term – five to 35 years
- Overpayments of 10% of advance for first three years can be made
- Available across England and Wales
Jeremy Wood, chief executive of the Dudley Building Society, said: “Last year much of our resource was employed in bedding in new processes and the new IT system, designed specifically to build our capability in the intermediary market.
“Having successfully completed that transition, this year we are focussing on developing our product range while continuing to improve our service to the intermediary community.
“These new products demonstrate our commitment to provide products that answer the needs of our introducers and their customers.”