As part of the agreement, Legal & General Mortgage Club members will have exclusive access to two mortgage products from Dudley Building Society.
From this week, advisers placing business with Dudley Building Society via Legal & General Mortgage Club will benefit from an exclusive 5-year fixed-rate residential mortgage product and holiday let mortgage product.
The exclusive residential mortgage product offers a fixed-rate of 3.94% for 5-years, before reverting to Dudley Building Society’s Residential Standard Variable Rate, which is 4.99%.
This product is available for purchase and remortgage, with a maximum loan-to-value (LTV) of 95%. The minimum advance amount is £25,000, while the maximum is £350,000.
Advisers will also benefit from an exclusive holiday let product with a rate of 3.69%. This offers a 1.8% discount on Dudley Building Society’s current buy-to-let Standard Variable Rate of 5.49% and a maximum 70% LTV.
This is available for purchase and remortgage, with a minimum advance amount of £25,000 and maximum of £500,000.
Danny Belton, head of lender relationships at Legal & General Mortgage Club, said: “We expect these competitive products to greatly benefit a large proportion of our client base given their applicability to purchase, remortgage, residential and holiday let cases.
“Our desire to ensure that all clients have access to a product that complements their needs sits at the heart of all we do, so we look forward to introducing a range of other products in the coming months in response to growing and changing demands.”
James Green, business development manager at Dudley Building Society, added: “We are pleased to partner with Legal & General Mortgage Club’s extensive network of intermediaries and clients to offer a range of exclusive products.
“These unique offerings on holiday let mortgages and residential mortgages with a maximum loan value of 95% is reflective of the renewed interest in both areas of the market and our commitment to closely monitoring borrower demand.
“We look forward to seeing how borrowers and advisers will benefit from these exclusive products, as well as introducing others in light of any changes to borrower appetite.”
