Dudley Building Society has announced a 9.3% increase in its mortgage book for the 2023/24 financial year, growing from £436.1m to £476.8m. The mutual reported a profit before tax of £1.8m in its latest financial results, with gross mortgage lending reaching £110.8m. Dudley, which specialises in expat, buy-to-let, holiday let, self-build, and retirement lending, also revealed that savings balances grew by 24% over the year, reaching a record £559.6m, the highest ever level recorded by the society at year-end.

Norton Home Loans has introduced two new optimal plans on its first and second charge mortgages. The plans have been designed to appeal to a wider pool of borrowers and are aimed at customers with minor or temporary blips on their credit record. Loan sizes between £3,000 and £250,000 are available across both product types, with a two and five-year fix also an option on both first charge and second charge mortgage products. Norton confirmed that the maximum LTV is 75% across the entire range and that terms of up to 30 years are also available.

Alternative Bridging Corporation has provided a £560,000 light refurbishment loan for a property owner in Barnet. The client needed a swift financial solution following the late withdrawal of their original lender and required urgent finance for both the purchase and light refurbishment of the property. Due to the tight timeline, the lender reused the existing property valuation and implemented a streamlined loan approval process to meet the strict deadline. Alternative Bridging moved quickly to provide a funding solution, with loan approval secured in five working days.

Hinckley & Rugby for Intermediaries has enhanced its flexible mortgage range, cutting selected rates by up to 30 basis points and launching new fixed-rate options. The moves apply to the lender’s Income Flex, Flex Together and Visa products, with the society also launching two and five-year fixed rate options at new LTV bands. Hinckley & Rugby revealed that the changes have been made in response to broker feedback on the challenges around affordability. The new products will provide support for first-time buyers and those moving up the housing ladder, as well as skilled workers on overseas working visas, including those working in health and social care.

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