Dudley BS launches large loan product and regional 95% LTV mortgage

06 May 2021

Specialist lender, Dudley Building Society, has announced the launch of a new product to cater for larger loan amounts of up to £1.5 million, as well as a 95% mortgage aimed at ‘local’ customers buying or remortgaging in specific regional postcodes.

Advisers now have access to a mortgage where customers can apply for loan amounts between £1 million and £1.5 million with a two year fixed rate of 3.69%, up to 80% LTV.

The Society also continues its support for its regional customer base in the Dudley, Wolverhampton, Walsall and Birmingham postcode areas by introducing a new 95% LTV mortgage for purchase and remortgage with a five year fixed rate at 3.99%.

Enhancements have also been made to six further advance products with reduced rates.

Commercial Director, Sam Ward said, “We wanted to fill the gap in our range for the growing number of requests for funding in excess of £1 million. Thanks to the strong two way relationships between ourselves and our introducers, we have been able to respond quickly and launch a product that answers those requests for a larger maximum loan.”

Sam added, “We might be a national lender, but as a regional building society, we are particularly proud of our local roots and the support we are offering to customers in our region. Our 95% product, where the Society pays the Higher Lending charge because we know how difficult it is to save a deposit, is therefore designed specifically to give a helping hand to local people wishing to buy and stay in the Midlands.”