Dudley Building Society is making rate cuts across its residential, buy-to-let, holiday let, expat, and self-build mortgages on Tuesday 28 May.
The society is lowering rates by up to 0.80% across its fixed, discounted, and interest-only products.
Two-year fixed residential mortgage rates will see a reduction of 0.70%, down to 5.69% for loans up to 75% LTV, and 5.99% for loans up to 90% LTV.
The society’s residential Discount for Term rate for loans up to 75% LTV will also be reduced to 5.99% while the Discount for Term rate for loans up to 90% LTV will be lowered to 6.19%.
The biggest reduction will be made to the society’s residential two-year interest-only fixed rate, which will be cut to 5.69%, down from 6.49%, for loans up to 75% LTV. While the residential interest-only Discount for Term rate will also be reduced to 5.99% for loans up to 75% LTV.
In addition, the Dudley is lowering rates across its buy-to-let and holiday let products. Buy-to-let two-year fixed rates will now start at 6.15% for loans up to 80% LTV, while the buy-to-let Discount for Term rate will be reduced to 6.25% for loans up to 80% LTV. The two-year holiday let fixed rate will also be dropped to 6.15% for loans up to 80% LTV, and the holiday let Discount for Term reduced to 6.25% for loans up to 80% LTV.
The expat residential two-year fixed rate will be reduced to 6.25% for loans up to 75% LTV and to 6.35% for loans up to 85% LTV. While the expat buy-to-let two-year fixed rate will now be 6.35% for loans up to 80% LTV. The expat two-year fixed holiday let rate will also be lowered to 6.35% for loans up to 80% LTV.
The society will consider applications from a wide range of countries and in over 160 currencies and can accept income from one foreign currency plus income derived in GBP.
Additionally, the eco self-build Discount for Term (Arrears) rate will be reduced to 6.34% for loans up to 80% LTV. The society will lend up to £1.5m across its expat residential range and up to £1m across its expat buy-to-let and holiday let range, as well as its self-build products.
Robert Oliver, distribution director at Dudley Building Society, said: “We are excited to be making significant rate cuts across our mortgage range. These reductions, combined with our flexible and manual approach to underwriting, and our dedication to maintaining our service levels, means we can support more brokers and their clients.
“This marks our second rate cut of the year as we continue to offer brokers competitively priced specialist mortgages.”
