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Bring us your mortgage rejects, says Dudley BS

  • 01/09/2015
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Bring us your mortgage rejects, says Dudley BS
Dudley Building Society is challenging mortgage brokers to send in their hardest-to-place residential mortgage enquiries, particularly those turned down by mainstream lenders.

Dudley’s head of credit, Jonathan Moore, said he wants to encourage intermediaries not to give up when faced with a difficult case or one where they have been knocked back by another lender.

“We want to try and highlight that there are lenders in the market who will look beyond a tick box underwriting mentality. This is no short cut to agree poor cases or ones which are not in the client’s best interest, but to show brokers that common sense lending is still alive.”

“I shall be looking at every case which comes in and we will be using these cases to help train our underwriters to look for what is good and not so good about a case. If we can lend on, what on the face of it, was a wooden hut in a forest, then we can help more brokers find a positive result for their clients and their individual circumstances.”

The lender is offering champagne for the ‘best cases.’

In June, Dudley reported mortgage a year-on-year mortgage lending uplift of 68% to £52.2m distributed exclusively through the intermediary sector.

The surge in mortgage business was revealed in its annual report for the year ending 31 March 2015 which also showed a pre-tax profit rise of 60% from £556,000 in 2014 to £887,000.

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