Dudley launches shared ownership and Right to Buy options as product development accelerates

23 September 2020

Dudley Building Society, the intermediary focussed specialist lender, has announced the relaunch of its Shared Ownership and Right to Buy (RTB) schemes, as it continues to accelerate its product development since relaunching at the end of August.

Both products offer a 1% discount from the standard variable rate of 4.99% for the term of the mortgage with no arrangement fees. The LTV for the shared ownership option is up to 90% of the share and the RTB LTV set at 100% of the discounted purchase price, 80% of value.

The RTB product also has £400 cashback payable to the borrower at completion.

Sam Ward, Commercial Director at Dudley said, “We are delighted to be able to reinstate our popular RTB and Shared Ownership schemes as part of our phased product expansion.

We had been monitoring a growing demand among our introducers for RTB and shared ownership products, which is why we decided to relaunch them first, ahead of other specialist niche areas. In the coming weeks we will be announcing new initiatives aimed at other specialist channels as Dudley continues to expand its offering exclusively through the broker market.”