Dudley Building Society has unveiled a new range of competitive 5-year fixed-rate mortgages, addressing varied borrower needs.
- These products offer tailored solutions for residential, expat, buy-to-let, and holiday let clients with LTV ratios up to 90%.
- Residential rates are set at 5.28% up to 75% LTV, with flexibility for early repayments.
- Expat offerings include loans up to £1.5m with a starting rate of 5.44%.
- Dudley aims to empower borrowers to manage finances with manual underwriting and up to 10% annual overpayments.
As of Monday, 21st October, Dudley Building Society has introduced a range of 5-year fixed-rate mortgage products. These new offerings cater to a diverse clientele including homebuyers, expats, landlords, and owners of holiday lets, with loan-to-value (LTV) ratios extending up to 90%.
For residential customers, the 5-year fixed rate product, valid until 31st December 2029, is priced at 5.28% for loans up to 75% LTV and 5.34% for those up to 90% LTV. These options are accompanied by a £999 arrangement fee, and borrowers are afforded the flexibility to repay up to 10% of the advance annually without incurring penalties.
The expat residential mortgages offer a 5.44% rate for loans up to 75% LTV and a 5.49% rate for those extending to 85% LTV, both available until the end of 2029. With an arrangement fee of £1,999, these products offer repayment options that include both capital and interest or interest-only methods, with loan amounts scaling up to £1.5 million available for purchase or remortgage purposes.
In the buy-to-let and holiday let sector, the 5-year fixed-rate solution extends to 31st December 2029, featuring a rate of 5.38% for loans up to 80% LTV, alongside a £1,499 arrangement fee. These loans are designed to support both capital and interest or interest-only repayment strategies, accommodating loans of up to £1 million.
For the expat segment within the buy-to-let and holiday let arenas, the 5-year fixed rate, available until 2029, is set at 5.64% for loans up to 80% LTV. This also comes with a £1,999 arrangement fee, and, like other products in this range, allows for up to 10% of the advance to be repaid each year without penalties, with maximum loan amounts reaching £1 million.
Robert Oliver, the distribution director at Dudley Building Society, emphasised the firm’s adaptability and foresight in developing these products. He highlighted, “We are excited to launch our new five-year fixed-rate products, which reflect our understanding of the market and the diverse needs of today’s borrowers.” The products also aim to aid first-time buyers and those with limited deposits by providing up to 90% LTV on residential options, and enable expats to invest with minimal upfront capital.
Dudley Building Society’s new mortgage offerings reflect a strategic commitment to meet diverse borrower needs in an evolving market.
