The product carries a fixed rate of 2.99% for two years with a loan-to-value (LTV) of up to 90%.
The maximum loan offered is up to £1m and is available for purchase and remortgage.
Overpayments of 10% are available without incurring a penalty fee in the first two years.
Head of credit at Dudley BS, Jonathan Moore, said the development of the product came about following a collaboration between the Society, SMS and Openwork and was based on feedback from Openwork members.
CEO at SMS, Ian Balfour, said the product highlights the importance of close relationships between lenders and distributors.
He added: “Dudley BS has been particularly receptive in helping us fashion a great product for Openwork members, which they have actively asked for. I am sure this will be only the first such collaboration between us.”
