Dudley BS reduces expat, self-build rates by up to 35bps Mortgage Finance Gazette

Img

Dudley Building Society will cut rates across its expat and self-build home loans by up to 35 basis points tomorrow (23 April).  

The mutual says two-year fixed expat residential rates will now start at 6.45% for loans up to 60% loan to value and from 6.55% for loans up to 85% LTV.   

Two-year buy-to-let expat fixes will begin at 6.55% for up to 70% LTV and 6.65% for up to 80% LTV.  

Expat holiday let two-year fixes will start at 6.55% up to 70% LTV and 6.65% up to 80% LTV.  

The lender will consider applications from a wide range of countries and in over 160 currencies and can accept income from one foreign currency, plus income derived in sterling.  

In the firm’s self-build range, its 2.40% self-build discount for term (advance) rate will be reduced to 6.84% up to 80% LTV, while the 2.50% self-build discount for term (arrears) rate has been lowered to 6.74% up to 80% LTV.  

The 2.60% eco self-build discount for term (advance) rate will be cut to 6.64% for loans up to 80% LTV, while the 2.70% eco self-build discount for term (arrears) rate will be reduced to 6.54% for loans up to 80% LTV.  

The mutual will lend up to £1.5m across its expat residential range and up to £1m across its expat BTL and holiday let range, as well as its self-build products.  

Dudley Building Society distribution director Robert Oliver says: “Brokers can be confident that they will receive a flexible and personalised approach to underwriting when submitting mortgage applications to us.”