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Dudley BS starts UK-wide lending via selected brokers

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  • 21/02/2013
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Dudley BS starts UK-wide lending via selected brokers
Dudley Building Society has dropped geographic lending restrictions ahead of a product range refresh.

The end of the three-year restrictions means borrowers unable to access a branch can find products via London & Country, Connells and Legal & General Mortgage Club intermediaries.

Products include a two year discounted rate deal for loans up to 75% loan-to-value (LTV) at 2.29%, and a three year fixed rate mortgage for loans up to 90% LTV at 4.39%.

Dudley chief executive Jeremy Wood said: “Up until relatively recently, we were a little concerned that we did not want to be flooded out and deal with large volumes. But the market has changed significantly over the past few months and availability of finance is much better, so we thought instead of making our lending restrictive let’s make it available to all comers.”

He said the discounted rate had been introduced to meet market demand and as a response to static interest rates.

“In lifting our lending restrictions we must maintain a structure of distribution and as we enjoy strong working relationships with London & Country, Legal & General Mortgage Club and Connells, it makes sense to take our new products to market with the help of their expertise,” he added.

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