Dudley Building Society cuts mortgage retention rates

By Bridging Loan Directory 17th June 2024

Dudley Building Society has lowered rates across its mortgage retention range by up to 0.70%.

The mutual has dropped rates on selected fixed and discounted products across its Residential, Buy-to-Let (BTL), Holiday Let and Expat range.

Reductions of up to 0.60% have been made to its two-year fixed residential retention mortgage products, and up to 0.70% for interest-only.

Two-year discount and fixed rates now start at 5.49% for both capital and interest-only options up to 60% LTV.

For BTL, retention rates have been cut by up to 0.55% and now start at 5.95% for a two-year fix and 5.89% for a two-year discount rate, both up to 60% LTV.

The mutual has also reduced rates across its holiday let retention range by up to 0.55%.

Holiday let two-year fixes now start at 5.95% and 5.89% for a two-year discount, both up to 60% LTV. Two-year fixed expat residential and BTL retention rates have seen reductions of 0.45% and now start at 6.15% up to 70% LTV.

All products come with no arrangement fee and Dudley Building Society pays a procuration fee of 0.25% to intermediaries for all existing customers switching products.

Robert Oliver, Distribution Director at Dudley Building Society, commented:

“Product transfers are increasingly popular at the moment and can offer a quicker, easier, and cheaper option for brokers’ clients compared to remortgaging.

These latest reductions mark our third set of rate cuts this year and follow substantial reductions across our new borrower mortgage range just last month.

These cuts, alongside our flexible and manual underwriting approach, position us well to serve both new and existing specialist mortgage customers.”