Dudley BS increases shared ownership, self-build and buy-to-let LTVs

Its shared ownership offering has seen an increased maximum LTV to 95% of share from 90%, in addition to reduced rates of 3.49% from 3.99%.

Buy-to-let, holiday let and self-build offerings also have increased maximum LTVs, with the maximum LTV for buy-to-let and holiday let products increasing to 80%, and the maximum LTV for self-build products increasing to 85% for both the end value and land value.

In addition to these changes, Dudley has continued to introduce tiered ERC rates to these products, with a discounted ERC rate available following the first year.

Commercial director, Kieron Blackburn, said: “We have been working to increase the maximum LTVs within these specialist areas for some time now, as we are eager to continue to drive mortgage business towards areas where applicants can benefit from our flexible approach to underwriting.

“In particular, our intermediary partners have indicated that there is a growing demand for a more flexible shared ownership proposition, as UK adults continue to be affected by the increased cost of living. At Dudley, we are focused on serving these applicants who require additional flexibility through the shared ownership scheme. The increase in maximum LTVs across our specialist areas allows us to serve our purpose of meeting the needs of the underserved and improve our overall mortgage proposition.”