Dudley strengthens BTL offering
25 January 2016
The Dudley Building Society, the intermediary only lender, has launched new BTL products with four discounted rate and four fixed rate options covering purchase and remortgage.
The Dudley has already started 2016 strongly with a raft of new products and improved criteria with the stand out feature of scrapping upper age limits across its whole range.
Product features include:-
Discounted rate
- Up to 70% LTV – 3.99% (1.5% discount from BTL SVR) purchase and remortgage
- Rental coverage 125% for houses / 140% for flats
- Up to 75% LTV – 4.24% (1.25% discount form BTL SVR) purchase and remortgage
- Rental coverage 130% for houses / 140% for flats
Fixed rate
- Up to 70% LTV – 4.24% (3 year fixed rate) purchase and remortgage
- Rental coverage 125% for houses / 140% for flats
- Up to 75% LTV – 4.49% (3 year fixed rate)) purchase and remortgage
- Rental coverage 130% for houses / 140% for flats
General Features
- £25,000 to £500,000 Loan size
- 5-35 year term
- C+I or Interest only
- Free valuation and fee assisted legals for remortgages
Jonathan Moore, Head of Credit said, “These new products provide important funding options for landlords with fixed and discounted rate options. Our maximum loan size on BTL has been increased to £500,000 and with no upper age limits on any of our mortgage range, we believe that we have a range of BTL products which will be very popular with our introducers.”
