Dudley Building Society announces ‘phased return’ to lending

27 August 2020

Dudley Building Society, whose mortgage distribution is exclusively drawn from the intermediary channel, has reported it is now lending again, but has confirmed that immediate appetite will be restricted as it begins to redevelop its origination via the broker market.

The Society which reported record lending last year halted new mortgage business in March as the COVID crisis developed, in order to better manage the existing pipeline, maintain service standards and harness resources to help existing customers.

The Society is returning with a core range of residential mortgages with fixed, variable and discounted rates as well as niche products for the self-build, self-employed and expat BTL mortgage sectors.

Sam Ward, Commercial Director at Dudley said, “I am delighted to be able to announce our 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.”

Sam added, “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. We were able to offer, as we still do, a more comprehensive support service to customers that went far beyond the deferment of payments. In many cases, we were able to offer alternative solutions which better suited particular customer circumstances.”