Dudley Building Society has launched three new mortgage products as part of a phased return to the mortgage market that it exited last summer.

It debuts residential, holiday let and buy-to-let products.

The residential discount for term loan is 5.89%, a 1.10% reduction on its residential standard variable rate, at up to 90% loan to value.

Its holiday let discount for term offer is 6.74%, a 0.75% cut on its residential standard variable rate, at up to 80% LTV. Affordability on holiday let loans are assessed on holiday let income.

While its BTL discount for term loan is 6.74%, also a 0.75% reduction on its residential standard variable rate, at up to 80% LTV.

The lender says it maintains a focus on underserved borrowers in the market, accepting first-time landlords, first-time buyers and consumer buy-to-let applicants among other niche criteria.

Last month, as part of its return to the mortgage market, the firm launched an expat mortgage product with Impact Specialist Finance, for purchase or remortgage up to 85% LTV at 5.99% and on a capital and interest or interest-only basis.

Last August, the mutual withdrew all of its products from the market after receiving a  “continuously high volume of mortgage applications”. The firm says it has since improved service levels, introducing a 48-hour service level agreement at each stage of the process.

Dudley Building Society distribution director Robert Oliver says: “Our new range of products have been designed to meet the needs of a range of applicants, whether they are a first-time landlord looking to purchase their first buy-to-let property, or an expat with complex income purchasing a home for their family in the UK. 

“We look forward to continuing to expand our product range to meet the needs of our partners.”