Dudley BS increases LTVs across specialist areas
01 March 2022
Dudley Building Society has made a number of improvements to its shared ownership, self-build and buy-to-let product ranges, as they continue to make their offering accessible to a wider number of applicants.
Their shared ownership offering has seen an increased maximum LTV to 95% of share from 90%, in addition to reduced rates of 3.49% from 3.99%. Their buy-to-let, holiday let and self-build offerings also have increased maximum LTVs, with the maximum LTV for buy-to-let and holiday let products increasing to 80%, and the maximum LTV for self-build products increasing to 85% for both the end value and land value.
In addition to these changes, they have also continued to introduce tiered ERC rates to these products, with a discounted ERC rate available following the first year.
Speaking about the changes, Commercial Director, Kieron Blackburn, stated “We have been working to increase the maximum LTVs within these specialist areas for some time now, as we are eager to continue to drive mortgage business towards areas where applicants can benefit from our flexible approach to underwriting.”
Kieron continued “In particular, our intermediary partners have indicated that there is a growing demand for a more flexible shared ownership proposition, as UK adults continue to be affected by the increased cost of living. At Dudley, we are focused on serving these applicants who require additional flexibility through the shared ownership scheme. The increase in maximum LTVs across our specialist areas allows us to serve our purpose of meeting the needs of the underserved and improve our overall mortgage proposition.”
