Dudley Building Society holds rates across entire range

Jessica Nangle

November 16, 2017

Dudley Building Society will not be increasing its mortgage rates after conducting a review of its mortgage product range following the Bank of England rate rise.

Jeremy Wood, chief executive at Dudley Building Society, said: “We were keen not to add to the concerns of brokers and their clients following some of the scare mongering that we saw last week.

“I felt that some of the more mainstream media coverage was almost misleading by not helping borrowers understand that base rate and SVRs are not one and the same or intrinsically linked.

“Although we have seen unprecedented demand for fixed rates (over 80% of UK new lending is on fixed rate) we are expecting a little more stability in the market which is why we have been keen to ensure we hold the rates across our whole range – real choice needs to remain the driving force for brokers and borrowers.”

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