Dudley Building Society has released a large loan product which will aid borrowers looking to borrow between £1m and £1.5m.
The five-year fixed rate product is priced at 3.34 per cent with a maximum loan to value of 80 per cent. It is also subject to a £499 arrangement fee.
The product, which is available for purchase and remortgage, also has an early repayment charge (ERC) of three per cent for the first two years and one per cent in the last three years.
Addditionally, the mutual has replaced its two-year fixed rate products with a single two-year fixed rate up to 90 per cent LTV with a rate of 3.69 per cent.
It has also cut the rates on other two-year products, including a deal up to 85 per cent LTV, which has fallen by 1.6 per cent to 3.39 per cent, and its 90 per cent LTV product which has fallen by 1.5 per cent to 3.49 per cent.
Dudley Building Society’s chief executive Jeremy Wood (pictured) said: “Here at the Dudley, we are redefining product value by reducing set up costs as well as continuing to simplify our offering.
“The large loan product is a clear example of our intentions by introducing a competitive product which benefits from reduced arrangement costs and a more customer-friendly exit penalty with our new tiered ERC.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
