Dudley Building Society has launched 2- and 5-year fixed-rate products across residential and buy-to-let (BTL) lending, aimed at providing brokers with more choice when supporting homeowners and landlords.
A new buy-to-let 5-year fixed rate at 5.80% up to 70% LTV has also been launched with consumer buy-to-let accepted, plus top-slicing allowed where rental does not fit.
The products arrive at a time when many borrowers are seeking stability and more predictable repayment options.
Dudley says that they have been designed to give brokers a broader set of choices, whether placing cases for first-time buyers at higher LTVs, homeowners seeking long-term certainty, or landlords looking to manage their portfolios.
Earlier this month, the Society also expanded its mortgage offering with the launch of new fixed-rate products across residential, buy-to-let, holiday let and expat lending.
CHANGING CIRCUMSTANCES
Rob Oliver (main picture), distribution director at Dudley Building Society, said: “Brokers tell us their clients want choice, certainty and the flexibility to adapt if circumstances change.
“That’s exactly what these new products are designed to offer. The 2-year fixes give people the option to review sooner, while the 5-year fixes provide longer term security.
“For residential borrowers, we’ve introduced options that can support both first-time buyers and those moving with more equity. For landlords, the new range is about giving them practical choices to manage cash flow and plan ahead.”
STRAIGHTFORWARD FEES
And he added: “We’ve kept fees straightforward, allowed for regular overpayments, and continue to underwrite every case by hand.
“That means brokers can bring us complex cases and know they’ll be considered on their own merits. Combined with the earlier product launches this month, this is another step in making sure brokers have the tools they need to place more cases successfully.”
PRODUCT DETAILS
The new range includes residential 5-year fixed – 60% LTV – at 4.99% (capital and interest); residential 2-year fixed – 90% LTV – at 5.50% (capital and interest); BTL 2-year fixed – 70% LTV – at 5.50% (capital and interest, interest only, or part and part); BTL 5-year fixed – 70% LTV – at 5.80% (capital and interest, interest only, or part and part) and BTL 5-year fixed – 80% LTV – at 5.90% (capital and interest, interest only, or part and part).
Arrangement fees are £499 (residential) and £750 (BTL) for the 2-year fixed rates, and £999 (residential) and £1,499 (BTL) for the 5-year fixed rates.
The early repayment charge is 3% in year one and 1% in year two for the 2-year fixed options. For the 5-year fixed options, the charge is 4% in year one, 3% in year two, 2% in year three, and 1% in both years four and five.
All products allow borrowers to make overpayments of up to 10% of the loan amount per year without penalty. Fees and charges have been kept straightforward to make product selection easier for brokers and their clients.
