Dudley Building Society has cut rates across its residential, buy-to-let (BTL) and specialist lending mortgage products by up to 1.30%. The updated range includes two and five-year fixes and two-year discount options tailored to owner-occupiers, landlords and specialist borrowers, including those applying under Dudley’s expat and recently launched skilled worker visa criteria. Across its range, residential two-year fixes start from 4.80% at up to 65% LTV, while its five-year BTL 70% LTV product starts from 5.10%. Furthermore, its skilled worker visa two-year fix is available at 4.90% at 80% LTV and its five-year expat BTL starts from 5.15% at up to 70% LTV.

more2life has launched a pilot scheme for its new omni interest reward lifetime mortgage. The product builds on the existing omni range, which was launched last year. It is designed to meet the evolving needs of later life borrowers, bringing together a combination of higher LTVs and short early repayment charge (ERC) terms. Omni interest reward allows borrowers to secure an interest rate discount of 0.4% if they commit to paying 50% of the monthly interest charged on their lifetime mortgage. Borrowers can miss up to three months of payments before the discount is automatically removed. The product is available for borrowers up to 89, with LTVs ranging from 37% to 59.65% in properties valued from £115,000 to £3.5m.

RAW Capital Partners has enhanced its mortgage proposition to allow foreign nationals to service their mortgage interest directly from a UK bank account. The specialist lender has 10 years’ experience in providing mortgages to foreign nationals, UK expats and Channel Islanders investing in UK BTL property. The move comes after RAW expanded its lending offering to UK residents in December. The latest improvement to its offering is designed to reduce the cost and administrative burden of servicing mortgage debt from overseas, helping borrowers avoid the friction associated with cross-border transfers and currency conversion. The move will also allow overseas landlords with UK properties to use their rental income to meet interest payments in the same way as other property-related expenses.

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