Dudley Building Society has announced two new products, with a discount of up to 0.77%, for BTL and holiday let customers.
Both products are available immediately, with customers of either able to choose from interest-only repayments, capital and interest repayments or a mixture of both.
The two year BTL product has a rate of 5.48%, reduced from 6.25%, and is available up to 80% LTV.
This mortgage carries an arrangement fee of £750 and allows borrowers to repay up to 10% of the advance amount annually without penalty.
Repayments beyond this limit incur an ERC of 1% in the first year, and 0.5% in the second.
The product is suitable for both purchase and remortgage purposes, supporting loan sizes between £25,000 and £1,000,000.
The holiday let product carries the same rate, LTV, arrangement fee, early repayment parameters and loan amounts.
Robert Oliver, distribution director at Dudley Building Society (pictured above), commented: “The introduction of our new BTL and holiday let products marks another important step towards supporting landlords and holiday let investors with options that meet their specific needs.
“These discounted rates, combined with flexible repayment options, empower our customers to make the most of their investments.”
