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Dudley adds BTL and self-build products

Jake Carter

June 25, 2021

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Dudley Building Society has introduced buy-to-let (BTL) and self-build products to its portfolio.

The BTL deal is a 70% loan-to-value (LTV) 2-year fix at 3.69%; it includes a £750 fee and a maximum loan value of £1m.

The self-build products are set at 75% LTV at end value and 80% LTV at land value, with the first offering a rate of 4.74% and the second, 4.49%.

All three products include 3% early repayment charges for the first two years.

The revised BTL product benefits from a lower 2-year fixed rate, while the self-build products offer a revised maximum loan size of £1m.

Sam Ward, commercial director of Dudley Building Society, said: “We are delighted to announce the latest enhancements to our BTL and self-build products.

“Not only does the new fixed rate BTL product benefit from a lower rate, but it also provides a solution to borrowers who buy a new principal residence while renting out their existing property and have attracted a SDLT surcharge.

“With our new fixed rate product which has an ERC of only two years, customers still have the option of selling before the end of year three to claim back the surcharge.

“On the self-build side, we have increased our maximum loan to £1m as research has shown that there is increasing demand for self-build products with larger loan sizes.”


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