Dudley Building Society reduces retention and further advance rates

Dudley Building Society has updated its range of mortgage retention products.

This includes rate reductions of up to 0.40 percentage points on existing retention products, the introduction of new discounted rate products, and an expansion of its interest-only options.

Key changes:

Two-year fixed rate at 5.09% (previously 5.49%) at 65% LTV
Two-year fixed rate at 5.24% (previously 5.59%) at 75% LTV

New Discounted Rate Products:

Two-year discount at 5.24% (65% LTV)
Two-year discount at 5.34% (75% LTV)

Five-Year Fixed Products:

4.99% at 60% LTV
5.14% at 75% LTV

Expanded Interest-Only Options:

New Two-Year Fixed & Discount Interest-Only products, starting at 5.24% (60% LTV)
Two-Year Fixed Interest-Only at 5.49% (60% LTV) and 5.59% (95% LTV)

All retention products have no arrangement fees and allow borrowers to overpay up to 10% of the balance annually without penalty.

FURTHER ADVANCE OPTIONS FOR EXISTING BORROWERS

Dudley has also introduced a new suite of further advance products, designed to give existing borrowers access to additional funds while staying with the Society. With rates starting at 5.44% and available up to 80% LTV, these options provide an opportunity for borrowers looking to finance home improvements, expand buy-to-let portfolios, or support expat investments.

Robert Oliver, distribution director at Dudley Building Society, said: “As a mutual, our focus is always on creating long-term value for our members. These changes reflect that commitment by ensuring existing borrowers are well-served with great rates, additional flexibility, and a range of solutions to suit their needs.

“This update offers stability and flexibility, making it easier for brokers to help clients secure the right deal while maintaining the personalised, case-by-case underwriting approach that Dudley is known for.

“By enhancing our retention and further advance product offerings, we’re aiming to help borrowers stay with the Society and continue to benefit from competitive deals, further strengthening broker-client relationships.”