Dudley BS launches new Resi & BTL products as they continue their reintroduction to the market
06 January 2023
Dudley Building Society have launched three new mortgage products as part of their phased return to the mortgage market. They paused new applications in August last year after receiving an unprecedented number of applications, and have since been dedicated to improving their service levels, now with a 48-hour SLA for each stage of the process.
They have launched Residential, Holiday Let and Buy to Let products. Their Residential product offers a 1.10% discount on their residential SVR, with a maximum LTV of 90%. Their new Buy to Let and Holiday Let products both have a 0.75% discount on their buy to let SVR, with maximum LTVs of 80%. Affordability on their Holiday Let product is also assessed on holiday let income.
Dudley BS maintain their focus on serving the needs of underserved borrowers in the market, accepting first time landlord / First Time Buyers and consumer buy to let applicants amongst other niche criteria.
Prior to the launch of these products, they also launched a semi exclusive residential ex-pat product, with a 1.00% discount for term and a maximum LTV of 80%.
Speaking on their phased reintroduction to the mortgage market, Robert Oliver, Distribution Director at the Society, said “As we welcome the new year, we are delighted to welcome our valued partners back to submit mortgage applications with us. Ensuring that we meet the service needs of our partners and their clients is our top priority as we move forwards, and we are dedicated to maintaining 48-hour SLAs“
Robert continued, “our new range of products have been designed to meet the needs of a range of applicants, whether they are a first-time landlord looking to purchase their first buy to let property, or an ex-pat with complex income purchasing a home for their family in the UK. We look forwards to continuing to expand our product range to meet the needs of our partners.”
