Dudley Building Society has reduced rates across its mortgage retention products, effective from today (Friday 31st January).
The update includes rate reductions of up to 0.40% on existing retention products, the introduction of new discounted rate products, and an expansion of its interest-only options.
2-year fixed rate retention products have been reduced by up to 0.40%, with standout reductions including: a 2-year fixed at 5.09% (previously 5.49%) at 65% loan-to-value (LTV) and a 2-year fixed at 5.24% at 75% LTV.
In addition, the lender introduced new discounted rate products, including a 2-year discount mortgage at 5.24% for loans up to 65% LTV and a 2-year discount option at 5.34% for loans up to 75% LTV.
Its 5-year fixed-rate products now include a 4.99% rate for loans up to 60% LTV and a 5.14% rate for loans up to 75% LTV.
To further expand its offerings, Dudley has also introduced new interest-only options.
These include 2-year fixed and discounted interest-only products starting at 5.24% for loans up to 60% LTV.
Borrowers seeking a fixed-rate interest-only mortgage can now also access a 2-year fixed product at 5.49% for 60% LTV or 5.59% for 95% LTV.
In addition, all retention products come with no arrangement fees.
Alongside its retention range update, Dudley also introduced a new suite of further advance products.
With rates starting at 5.44% and available up to 80% LTV, these options provide an opportunity for borrowers looking to finance home improvements, expand buy-to-let portfolios, or support expat investments.
Robert Oliver, distribution director at Dudley Building Society, said: “As a mutual, our focus is always on creating long-term value for our members.
“These changes reflect that commitment by ensuring existing borrowers are well-served with great rates, additional flexibility, and a range of solutions to suit their needs.
“This update offers stability and flexibility, making it easier for brokers to help clients secure the right deal while maintaining the personalised, case-by-case underwriting approach that Dudley is known for.”
He added: “By enhancing our retention and further advance product offerings, we’re aiming to help borrowers stay with the society and continue to benefit from competitive deals, further strengthening broker-client relationships.”
