Dudley Building Society releases new BTL range

The Society plans to roll out new products in a series of announcements over the next month.

Features of the new range include two new Discounted Rates for term products for purchase and remortgage, from 3.19% up to 70% LTV (previously 3.99%) and 3.49% up to 75% LTV (previously 4.24%).

There are also two new 3-year fixed rates, and two new 5-year fixed rates.

Products have no upper age limits, manual underwriting, tiered BTL rental calcuations (from 125% to 140%), and loan sizes from £25,000 to £1m.

Speaking about the new products, Jonathan Moore, Head of Credit, commented:

"We have introduced a very strong line up of products for the BTL market that reflects our commitment to the sector. Landlords can choose between discounted rate products where the discount from the SVR lasts for the term of the mortgage or three or five year fixed rate options. Capital repayments of 10% of the advance amount can be made every year, along with interest only and repayment options.

"The BTL market is readjusting to the recent changes to tax relief and our Society has responded with a comprehensive range of attractively priced products, where we have cut rates in some cases by up to 0.8%. We are fully committed to the intermediary market and with this range we are offering today’s landlord a particularly well balanced range backed up by individual underwriting which has become a hallmark of our successful distribution strategy."