Dudley building society have launched a 2-year fixed rate mortgage, distributed through specialist distributor, Solent Mortgage Services (SMS).
The product is available for brokers who are members of the Openwork financial advice network.
The new product is available from a rate of 2.99%, up to 90% LTV. Terms are available from 5-35 years, with a maximum loan value of £1 million.
The product comes with a free valuation for remortgages and reduced legal fees.
Jonathan Moore, head of credit at Dudley Building Society, said, “Thanks to the strong relationship between Dudley BS, SMS and Openwork, this exclusive product is the result of close collaboration, based on the feedback collected by SMS from Openwork members. We are looking forward to further increasing our business with SMS and also supporting the needs of Openwork advisers.”
Ian Balfour, chief executive at SMS added, “This product initiative demonstrates the value of close relationships between lenders and distributors. Dudley BS has been particularly receptive in helping us fashion a great product for Openwork members, which they have actively asked for. I am sure this will be only the first such collaboration between us.”