This includes its residential two-year fix up to 65% loan to value (LTV), which has been reduced by 0.6% and now starts at 4.8%, as well as its BTL five-year fix up to 70% LTV, which is now 5.1% after a 0.7% reduction.
Its Skilled Worker visa two-year fix up to 80% LTV has been cut by 0.55% to 4.9%, while the expat BTL five-year fix up to 70% LTV has been reduced by 0.44% to 5.15%.
The mutual has also aligned its five-year fixed product end dates and updated early repayment charge (ERC) structures.
All five-year fixes now have stepped ERCs, starting at 4% in the first year before ending at 1% for the last two years, while two-year fixes and discounts include ERCs of 3%, 2%, 2% and 1% respectively.
Paul Purewal, head of intermediary relations at Dudley Building Society, said: “This refresh is about making life easier for brokers at the point of placement. We have focused on areas where pricing could be sharpened, while also bringing more consistency across end dates and product structures.
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“What we hear time and again is that clarity matters just as much as rate. By keeping the range straightforward and aligned, brokers can spend less time explaining the detail and more time supporting their clients, whether they are placing a core case or something more specialist.”
The mutual’s rate cuts have bucked the recent trend of price increases made by the likes of Santander, NatWest, TSB, Virgin Money and Nationwide in the last week, as well as HSBC, Clydesdale Bank and Principality Building Society.
HSBC ups UK and international resi mortgage rates
HSBC has announced rate increases, effective from 4 February.
Pricing for two- and five-year fixed first-time buyer deals will go up across selected mortgages up to 95% LTV, and products for energy-efficient homes.
The bank will raise selected two-year fixed homemover rates for standard and energy-efficient properties, as well as two- and five-year fixed remortgages, both with and without cashback.
Pricing will also be increased across two- and five-year fixed mortgages for international residential and remortgage pricing up to 75% LTV.
Clydesdale Bank increases mortgage rates
Clydesdale Bank has raised pricing across its residential mortgage rates, impacting purchase and remortgage, and product transfer deals.
Increases of 0.1% will be made to its two-year fixed core residential purchase and remortgage rates at 80% LTV, while at 85% LTV, two-year fixed rates will go up by 0.05% for borrowing up to £1m and 0.1% for loans up to £2.5m.
At 90% LTV, the fee-free two-year fix for loans less than £1m will rise by 0.13%.
Across its core residential product transfer rates, Clydesdale Bank will increase two-year fixed rates at 80% LTV for loans between £1m and £2.5m, as well as capital and interest-only borrowing up to £1m by as much as 0.22%.
Selected two-year fixed product transfer rates at 85% and 90% LTV will also rise by as much as 0.22%.
For professional borrowers, two-year fixes at 80% and 85% LTV will rise by 0.19%, and broker exclusive purchase and remortgage two-year fixes at 80% LTV will increase by 0.22%.
Principality BS ups pricing
Principality Building Society has also increased selected pricing, further to the rate rises announced on Monday.
Effective from 4 February, two-, three- and five-year fixed rates for residential borrowers, both with and without cashback, will rise by as much as 0.13%.
Price hikes of up to 0.12% will be made to joint borrower sole proprietor (JBSP) mortgages up to 90% LTV, fixed for two or five years, while new-build product rates will go up by as much as 0.15%.
The mutual’s five-year fixed BTL rates at 60%, 70% and 75% LTV will increase by 0.14%, and selected holiday let rates by as much as 0.2%.
Principality Building Society is also withdrawing its two- and five-year fixed new-build products at 95% LTV.
