Dudley Building Society has announced the return of an interest only repayment option for its new residential 1.05% discount for term product.
The society has also revealed it is increasing maximum LTVs from 75% to 80% on its two-year discount product, as well as its two, three and five-year fixed rate residential products.
The society rejoined the market at the end of August and said it had since taken a measured decision to launch products in a “phased fashion”, to better manage demand.
“Having launched a series of new and exciting products in specialist niches such as shared ownership, right to buy, self-build and holiday let funding, the society feels the time is right to look again at the core residential mortgage proposition,” commented Dudley commercial director, Sam Ward.
“We are tuning our criteria in a way that increases our caseload in proportion to our ability to process, thus maintaining our reputation for not only meeting the expectation of our customers for competitive funding solutions, but also providing a fast reliable service to our introducer partners.”
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