Dudley Building Society has replaced its five-year fixed rate product range with a single 95% fixed rate product.
The new product comes at a rate lower than any of its predecessors, the society confirmed.
Instead of having seven separate products with different tiered rates and LTVs, Dudley now has one five-year fixed rate product with a rate of 3.45% up to 95% LTV.
The society’s commercial director, Sam Ward, said that research had indicated it was important to simplify the choices for its introducers.
“Our research was telling us that while we were trying to accommodate the maximum number of different customer requirements, the five-year fixed rate range was actually becoming unnecessarily complicated,” Ward said.
“Simplicity should always trump complexity. So now, our introducers don’t have to wade through a mass of criteria when trying to make sure they slot their client into the right product.
“Looking at the number of product options in the market generally, without sourcing systems it would be virtually impossible for brokers to be sure their clients had the right deal. Our response is to take away the extra baggage of differing rates and LTVs and just have one five year fixed rate, suitable for every customer.”
Latest News
-
Inflation remains at 3.8% in August
-
UK house price growth slows to 2.8% in July – ONS
-
Third of UK adults relying on inheritance to fund retirement
-
Govt has failed to act on lifetime ISA recommendations – Treasury Committee
-
Becketts acquires Swallow Financial Planning
-
‘Fear of rejection’ biggest barrier for one in three aspiring buyers
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories