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Dudley adopt 'common sense' approcah to BTL lending by slashing fixed rates

Dudley adopt 'common sense' approcah to BTL lending by slashing fixed rates

Dudley Building Society has introduced a range of new fixed rate buy-to-let mortgage products with interest rates lowered across all its fixed rates by 0.3% - rates now starting from 2.99%.

The lender, which will now lend to maximum of £1m on most of its products, has rolled out new three- and five-year discount mortgages, with a maximum early redemption charge period of three years.

Dudley has also reduced minimum income to £20,000 per mortgage application, while it has also launched the option to drop early redemption charges on some loans.

Jonathan Moore, head of credit at Dudley Building Society pointed out that landlords have been in the 'firing line' over the past 12 months because of the stamp duty changes and, with the tapering effect on tax relief due to start in 2017 he believes that mortgage lenders now have an obligation to offer landlords greater support.

"It is important that lenders like the Dudley do everything that we can to provide the kind of products that offer value, flexibility and a common sense approach to underwriting buy-to-let mortgages," he said. 

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