"We began welcoming new mortgage applications again back in December of last year, and since then we have been gradually reintroducing our specialist product offerings."
Dudley Building Society has introduced a new range of two-year fixed rate products and reintroduced its self-build product range.
The new self-build products offer a range of options for self-build applicants, whether they require funds to be released at the start or the end of each build stage. The self-build product range also offers reduced rates for applicants building eco homes.
The Society’s new discount for term self-build products offer flexible options for applicants, with arrears and advance payment options available for both standard and eco self-builds. The self-build range also offers maximum LTVs of 85% for the end value and land value. Arrears payment products offer discounted rates of 5.99% for standard self-builds and 5.69% for eco self-builds. Advance payment products offer 6.14% for standard self-builds and 5.84% for eco self-builds.
The new range of two-year fixed rate products includes a residential product with a reduced rate of 5.29% from 5.59%. The Society has also introduced two-year fixed rate products across its specialist mortgage offerings, which previously had only discount for term products available. Two-year fixed rate products are now available across Dudley's expat range, with interest rates of 5.89%, and across its standard buy-to-let and holiday let ranges, with rates of 5.79%.
Dudley has also launched an interest-only two-year fixed rate product, with a rate of 5.49%.
Robert Oliver, distribution director at the Society, said: “We have introduced our new range of fixed rate products after seeing demand for fixed rate products increase significantly over recent weeks. The market is changing as applicants look for more stability, and we are focused on ensuring that we are proactive in our approach to meeting needs of these applicants.
“We began welcoming new mortgage applications again back in December of last year, and since then we have been gradually reintroducing our specialist product offerings. The introduction of our self-build product range forms part of this reintroduction, and we are delighted to be maintaining our flexible approach to the different stages of self-build projects.”
