Legal & General Mortgage Club has launched several new exclusive products with Dudley Building Society.
Advisers placing business with Dudley via the mortgage club will have access to a five-year fixed-rate residential mortgage product and holiday let mortgage product.
The exclusive residential product offers a fixed rate of 3.94% for five years, before reverting to Dudley’s residential Standard Variable Rate (SVR), which currently stands at 4.99%. This product is available for purchase and remortgage, with a maximum LTV of 95%, minimum advance amount of £25,000, and maximum of £350,000.
Advisers can also access an exclusive holiday let product with a rate of 3.69%, which offers a 1.8% discount on Dudley’s current buy-to-let SVR of 5.49%, and a maximum LTV of 70%. This is available for purchase and remortgage with a minimum advance amount of £25,000 and maximum of £500,000.
L&G Mortgage Club head of lender relationships, Danny Belton, commented: “We expect these competitive products to greatly benefit a large proportion of our client base given their applicability to purchase, remortgage, residential and holiday let cases.
“Our desire to ensure that all clients have access to a product that complements their needs sits at the heart of all we do, so we look forward to introducing a range of other products in the coming months in response to growing and changing demands.”
Dudley business development manager, James Green, added: “We are pleased to partner with L&G Mortgage Club’s extensive network of intermediaries and clients to offer a range of exclusive products.
“These unique offerings on holiday let mortgages and residential mortgages with a maximum loan value of 95% is reflective of the renewed interest in both areas of the market and our commitment to closely monitoring borrower demand.
“We look forward to seeing how borrowers and advisers will benefit from these exclusive products, as well as introducing others in light of any changes to borrower appetite.”
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