Dudley Building Society has reduced rates across its residential, buy-to-let and expat mortgage products, with cuts of up to 110bps.
The mutual has introduced a series of rate reductions across both purchase and remortgage products, covering two-year and five-year fixed rates, discounted products, residential interest-only mortgages and selected buy-to-let and expat offerings.
Among the largest reductions is its residential five-year fixed rate at 75% loan-to-value (LTV), which has fallen by 110bps from 6.20% to 5.10%.
The Society’s residential expat two-year fixed rate at 75% LTV has been reduced from 6.30% to 5.38%, while its residential interest-only five-year fixed rate at 75% LTV has also been cut from 6.30% to 5.40%.
Within the buy-to-let range, the five-year fixed rate at 80% LTV has been reduced from 6.40% to 5.63%. The buy-to-let expat five-year fixed rate at 70% LTV has been lowered from 6.30% to 5.68%.
The lender has also reduced pricing across a number of residential remortgage products, including its five-year fixed rate at 60% LTV, which is now available at 4.90%, down from 6.00%.
The changes follow a recent enhancement to the Society’s lending proposition, which saw the maximum loan size on selected residential products increase to £1.5 million.
Paul Purewal (pictured), head of intermediary relations at Dudley Building Society, said: “These reductions represent a notable enhancement across a number of our key residential, buy-to-let and expat products, helping brokers access more competitive options for a wide range of clients.
“While pricing remains an important consideration, we know many borrowers have circumstances that need looking at on their own merits. That’s why competitive rates are only one part of the equation.
“Our approach combines lower rates with the flexibility of individual underwriting, giving brokers more opportunities to place cases that may struggle elsewhere. Whether it’s a straightforward application or one with additional complexities, we take a common-sense view to ensure brokers find a suitable home for their clients.”
The latest repricing forms part of a wider trend of lenders reducing mortgage rates as competition in the market continues to intensify.
For brokers, the cuts provide a broader range of options across residential, buy-to-let and expat sectors, while retaining access to Dudley Building Society’s manually underwritten approach.
