Dudley begins phased return to lending

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The lender, which operates exclusively through intermediaries, halted all mortgage business in March when the Covid crisis took hold.

It took the decision in a bid to better manage its existing pipeline, maintain service standards and harness resources to support existing customers.

However, it is today returning to the market, offering residential mortgages as well as products for the self-build, self-employed and ex-pat buy-to-let sectors.

Dudley said immediate appetite would be restricted as it begins to redevelop its origination via the broker market.

Sam Ward (pictured), commercial director at Dudley said, “Our packager partners have been keen for us to reopen and while we ease ourselves back into the market, our introducers can be assured that our service and ability to deliver innovative lending solutions remains unchanged.”

She explained while the building society had been disappointed to suspend new business acquisition one unexpected advantage had been that it gave the team at Dudley more human resources to help existing customers when the crisis started to cause concern.

Ward added: “We were able to offer, as we still do, a more comprehensive support service to customers that went far beyond the deferment of payments. In many cases, we were able to offer alternative solutions which better suited particular customer circumstances.”