Dudley announces LTV increase to 80% and the return of interest only option for new discount product

Dudley Building Society has announced the return of an interest only repayment option for its new residential 1.05% discount for term product, as well as increasing maximum LTVs from 75% to 80% on its two year discount and two, three and five year fixed rate residential products.

The Society re-entered the market at the end of August and took a measured decision to launch products in a phased fashion to better manage demand.

Sam Ward, Commercial Director at Dudley, commented, “Having launched a series of new and exciting products in specialist niches such as shared ownership, right to buy, self-build and holiday let funding, the Society feels the time is right to look again at the core residential mortgage proposition. To that end, we have taken the next step by improving residential LTVs and reintroducing an interest only repayment option via a new discounted product.”

Sam added, “We are tuning our criteria in a way that increases our caseload in proportion to our ability to process, thus maintaining our reputation for not only meeting the expectation of our customers for competitive funding solutions, but also providing a fast reliable service to our introducer partners.”

Published: 05 October 2020