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Dudley BS resumes lending with maximum 75 per cent LTV

  • 27/08/2020
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Dudley Building Society has resumed mortgage lending with a phased return to the market that includes a maximum 75 per cent loan to value (LTV) for residential properties and 70 per cent LTV for buy to let.


The lender has returned with four products for standard residential purchase and remortgage along with a tracker for those self-employed.

The two-year fix is at 3.79 per cent with a £999 product fee, while the three-year and five-year fixes at 3.84 per cent and 3.89 per cent both have a one per cent product fee.

A two-year 1.2 per cent discount variable rate mortgage is available at 3.79 per cent and also comes with a one per cent arrangement fee.

And the self-employed product is a 1.1 per cent three-year discount with one year’s accounts required at a rate of 3.89 per cent.

Dudley also has two ex-pat products including a buy-to-let version, and eight further advance deals.


Restricted appetite

The mutual said its “immediate appetite will be restricted” as it begins to redevelop its origination via the broker market.

Dudley BS recorded record lending last year but halted new business in March as the Covid-19 pandemic hit.

Commercial director Sam Ward said she was delighted with the return to the market.

“Our packager partners have been keen for us to reopen and while we ease ourselves back into the market, our introducers can be assured that our service and ability to deliver innovative lending solutions remains unchanged,” she said.

“While we were disappointed to suspend new business acquisition one of the unexpected advantages was that it gave us more human resources to help existing customers when the Covid-19 crisis started to cause them concern.

“In many cases, we were able to offer alternative solutions which better suited particular customer circumstances,” she added.



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