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TODAY'S OTHER NEWS

Dudley increases maximum LTVs to 80%

Dudley Building Society has announced changes to its maximum loan-to-value (LTV) options and a new product discount.

The society has increased maximum LTVs from 75% to 80% on its two-year discount and two, three and five-year fixed-rate residential products.

It has also brought back an interest-only repayment option for its new residential 1.05% discount for term product.

Sam Ward, commercial director at Dudley Building Society, says: “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.”

“To that end, we have taken the next step by improving residential LTVs and reintroducing an interest-only repayment option via a new discounted product.”

Dudley re-entered the market at the end of August and took a measured decision to launch products in a phased fashion to better manage demand.

Ward adds: “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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