Dudley Building Society launches specialist BTL product for the underserved landlord customer

01 October 2019

Dudley Building Society (DBS), which originates its mortgages exclusively from the intermediary sector, has launched a BTL product aimed at a particular niche servicing among others, expats, the self-employed and older clients.

New mortgages will attract the current rate of 3.79% which includes the 1.70% discount for term.

Features include:-

Up to 70% LTV
Terms up to 40 years
Joint borrower, sole proprietor
Flexibility of interest only, part & part and capital & Interest
No upper age limits
Ex pats and self-employed
No minimum income
Multi tenanted properties accepted
Loans up to £1million

According to DBS’s Head of Commercial, Sam Ward, this product launch highlights the Society’s strategy to identify and service those areas of the mortgage market that are underserved.

She said, “Dudley Building Society continues to be the most consistent supporter of the intermediary sector and with this launch we are reinforcing our commitment to their landlord customers, especially those, who tend to be disregarded by more mainstream BTL products.”

“We have spent time researching where the BTL sector has so far failed to address the needs of certain classes of landlord and this led us to building a product which seeks to service potential landlords who have been underserved. We are offering a limited tranche to start and from the reaction of our intermediary partners prior to launch, we are expecting an enthusiastic take up.”