Dudley announces phased return to lending

Dudley Building Society has announced it is making a phased return to lending with its core range of residential mortgages.

The society, which has a mortgage distribution exclusively drawn from the intermediary channel, suggested that its immediate offering will be restricted as it begins to “redevelop its origination” via the broker market.

Having reported record lending last year, Dudley halted new mortgage business in March as the COVID-19 crisis developed – a move that the society indicated was to better manage its existing pipeline, maintain service standards and help existing customers.

Dudley’s range of residential mortgages includes fixed, variable and discounted rates as well as niche products for the self-build, self-employed and expat BTL mortgage sectors.

“I am delighted to be able to announce our return to the market,” said Dudley commercial director, Sam Ward. “Our packager partners have been keen for us to reopen and while we ease ourselves back into the market, our introducers can be assured that our service and ability to deliver innovative lending solutions remains unchanged.

“While we were disappointed to suspend new business acquisition, one of the unexpected advantages was that it gave us more human resources to help existing customers when the COVID-19 crisis started to cause them concern.

“We were able to offer, as we still do, a more comprehensive support service to customers that went far beyond the deferment of payments. In many cases, we were able to offer alternative solutions which better suited particular customer circumstances.”

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