Dudley Building Society has replaced its entire seven item five-year fixed range line up with just one product.
This comprises a 95% LTV at 3.45%. It charges a £499 arrangement fee and is available for purchase and remortgage.
Commercial Director Sam Ward says research taken by the lender described its previous range as “unnecessarily complicated”.
She says: “Simplicity should always trump complexity. Now, our introducers don’t have to wade through a mass of criteria when trying to make sure they slot their client into the right product.
“Looking at the number of product options in the market generally, without sourcing systems it would be virtually impossible for brokers to be sure their clients had the right deal.
“Our response is to take away the extra baggage of differing rates and LTVs and just have one five year fixed rate, suitable for every customer.”
