Dudley Building Society has unveiled a new range of five-year fixed rate mortgages for the BTL market.
Also targeted expat and holiday let customers, these new mortgages offer LTV ratios of up to 90%. However, BTL customers can only access mortgages at up to 80%.
The BTL, and holiday let, mortgage is available until 31st December 2029, and has a rate of 5.38% for loans up to 80% LTV and a £1,499 arrangement fee.
These products cater to both capital and interest or interest-only repayment methods, with loans available up to £1m.
For expat BTL and expat holiday let mortgages, also available until 31st December 2029, rates of 5.64% are available for up to 80% LTV with a £1,999 arrangement fee.
Borrowers can repay up to 10% of the advance amount each year without penalty, with loan amounts available up to £1m.
“We are excited to launch our new five-year fixed-rate products, which reflect our understanding of the market and the diverse needs of today’s borrowers,” said Robert Oliver, distribution director at Dudley Building Society (pictured above).
“These products, combined with our commitment to maintaining high service levels and a manual underwriting process, will continue to support brokers and their clients as they seek competitive and reliable mortgage options.”
Elsewhere, the building society is offering a residential five year fixed rate until 31st December 2029 at a rate of 5.28% for loans up to 75% LTV, and 5.34% for loans up to 90% LTV. Both options come with a £999 arrangement fee, and borrowers are allowed to repay up to 10% of the advance amount each year without penalty.
Also available until 31st December 2029 are expat five year fixed rate residential mortgages, with rates of 5.44% for up to 75% LTV and 5.49% for up to 85% LTV, with an arrangement fee of £1,999.
Borrowers have the option to choose between capital and interest or interest-only repayment methods, with loans available up to £1.5m on either purchase or remortgage.
