The Dudley Building Society has launched six new mortgage products.
There are four discounted and two five-year fixed rate products.
Details are as follows:
Discounted (For term) rate for interest only mortgages
- Up to 60% LTV Purchase – 3.79% (1.2% discount from SVR)
- Up to 60% LTV Remortgage – 3.79% (1.2% discount from SVR)
- 60.01 to 75% LTV Purchase – 3.99% (1.0% discount from SVR)
- 60.01 to 75% LTV Remortgage – 3.99% (1.0% discount from SVR)
- £25,000 to £1 million
- ERC 3% of advance in first three- years
- 5-35 year term
- Remortgage incentive packages includes fee assisted legals and free valuation
Five-year fixed rate (capital & interest repayment)
- Up to 80% LTV Purchase – 3.99%
- Up to 80% LTV Remortgage – 3.99%
- £25,000 to £1 million
- ERC 3% of advance in first five years
- 5-35 year term
- Remortgage incentive packages includes fee assisted legals and free valuation
The Society, which works exclusively through the intermediary market for its mortgage business, also recently announced that it has scrapped upper age limits across its entire product range.
Jonathan Moore, head of credit at the Dudley, said: “These new products complement our existing range and will work well with the current market desire for longer term incentivised periods. They will also support our revised approach to lending to older borrowers, who are more likely to desire a mortgage solution which avoids the need for regular remortgaging.
“By adding a five year fixed range, clients now have a two, three and five-year option as well as four attractive discounted rate products for both purchase and remortgage.”
