"Along with simplifying our two-year fixed rate range with a single new product at a higher LTV than before, there are two attractive discounted rate alternatives"
There is also a two-year product discounted by 1.60% at 3.39% up to 85% LTV, and a 1.50% discount for term product at 3.49% to 90% LTV with no fee.
Additionally, the Society has launched a new product for borrowers wishing to borrow between £1m and £1.5m.
The five-year fixed rate is priced at 3.34% up to 80% LTV with a £499 arrangement fee. It is available for both purchase and remortgage and has a tiered ERC of 3% in the first two years and 1% in the final three.
Chief executive, Jeremy Wood, said: “Our new large loan product comes with one of the lowest set fees in the market at £499 as well as a market leading tiered ERC, should customers need to exit early. Along with simplifying our two-year fixed rate range with a single new product at a higher LTV than before, there are two attractive discounted rate alternatives, one of which has no arrangement fee at all.
“Here at the Dudley, we are redefining product value by reducing set up costs as well as continuing to simplify our offering. The large loan product is a clear example of our intentions by introducing a competitive product which benefits from reduced arrangement costs and a more customer-friendly exit penalty with our new tiered ERC.”
