Dudley Building Society has launched a 95% LTV deal for borrowers remortgaging or buying in the local area.

The lender is offering a five-year fixed at 3.99% for borrowers in the Dudley, Wolverhampton, Walsall and Birmingham postcode areas.

At the same time, Dudley has launched a larger loan deal available from £1m to £1.5m with a two-year fixed rate of 3.69% up to 80% LTV.

Commercial director Sam Ward says: “We wanted to fill the gap in our range for the growing number of requests for funding in excess of £1 million. 

“Thanks to the strong two-way relationships between ourselves and our introducers, we have been able to respond quickly and launch a product that answers those requests.”

She adds: “We might be a national lender, but as a regional building society, we are particularly proud of our local roots and the support we are offering to customers in our region. 

“Our 95% product, where the society pays the higher lending charge because we know how difficult it is to save a deposit, is therefore designed specifically to give a helping hand to local people wishing to buy and stay in the Midlands.”