Dudley Building Society has reduced buy-to-let rates across its mortgage range, with landlords able to access cuts of up to 77bps on selected products.
The changes form part of a wider repricing exercise announced on 19 June, which includes reductions of up to 110bps across residential, buy-to-let and expat mortgages for both purchase and remortgage borrowers.
Among the buy-to-let highlights, the society’s five-year fixed rate at 80% loan-to-value (LTV) has been reduced from 6.40% to 5.63%. Its buy-to-let expat five-year fixed rate at 70% LTV has also fallen, from 6.30% to 5.68%.
Alongside the buy-to-let changes, Dudley Building Society has reduced rates across a range of residential and expat products. The largest reduction applies to its residential five-year fixed rate at 75% LTV, which has fallen by 110bps from 6.20% to 5.10%.
Other changes include a residential expat two-year fixed rate at 75% LTV, reduced from 6.30% to 5.38%, and a residential interest-only five-year fixed rate at 75% LTV, which has been cut from 6.30% to 5.40%.
The society has also lowered pricing on selected residential remortgage products. Its five-year fixed rate remortgage product at 60% LTV is now available at 4.90%, down from 6.00%.
Alongside the rate reductions, Dudley Building Society recently increased the maximum loan size available on selected residential products to £1.5m.
“These reductions represent a notable enhancement across a number of our key residential, buy-to-let and expat products, helping brokers access more competitive options for a wide range of clients,” said Paul Purewal, head of intermediary relations at Dudley Building Society (pictured).
“While pricing remains an important consideration, we know many borrowers have circumstances that need looking at on their own merits. That’s why competitive rates are only one part of the equation.
“Our approach combines lower rates with the flexibility of individual underwriting, giving brokers more opportunities to place cases that may struggle elsewhere. Whether it’s a straightforward application or one with additional complexities, we take a common-sense view to ensure brokers find a suitable home for their clients.”