Mortgage News
Dudley BS opens up large mortgage range to whole market
Dudley Building Society has made its residential large loan mortgage range accessible to all brokers, after previously limiting its distribution to a number of firms.
Loan sizes range from £1m to £2.5m and are available for both purchases and remortgages.
Rates start at 6.19% on the discount for term large loan products, which go up to 75% loan to value (LTV) on a repayment basis and 70% LTV for interest-only.
The large loan mortgages are also available for expats, where one or more of the applicants are residing outside of the UK, and the property will be lived in by the borrower’s family as well as by the borrower themselves when in the country.
Income derived from a wide range of countries and in over 160 currencies is accepted by the society.
For expats, rates start at 6.49% on the expat residential discount for term large loan products, which also go up to 75% LTV on a repayment basis and 70% for interest-only.
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Robert Oliver (pictured), distribution director at Dudley Building Society, said: “We are thrilled to open up our large loan mortgages to the wider intermediary market, giving all brokers access to our products.
“Our large loan mortgages are a perfect fit for high-earning individuals who require a personalised and flexible approach from their mortgage lender.”
Last week, Dudley Building Society reduced select residential fixed mortgage rates for both new and existing borrowers.