Dudley Building Society has launched expat buy-to-let (BTL) and expat holiday let products as it continues to build its offering for expat applicants.
In addition to this, the Society have introduced a 2-year fixed rate product and an interest only discount for term product to their range.
As it introduces new products to their range, the Society have also reduced interest rates across their existing range of residential, expat residential, BTL and holiday let products.
Robert Oliver, distribution director at the society, said: “We have seen a sharp increase in enquires for expat BTL mortgages over recent weeks, which prompted us to introduce these new products to enhance our expat offering.
“Our ability to make human decisions allows us to meet the complex needs of expat applicants, as we will accept applicants from a wide range of countries in over 160 currencies.”
The Society’s new expat BTL and expat holiday let products offer 80% loan-to-value (LTV), with a discounted interest rate of 5.89%.
Their existing expat residential product has a reduced discounted interest of 5.89%, with the maximum LTV increasing from 80% to 85%.
Dudley’s new residential 2-year fixed rate product offers a fixed rate of 5.59%, with a maximum LTV of 90%.
Their new interest only discount for term product has a discounted rate of 5.49%, with a maximum LTV of 75%.
Other interest rate decreases include their residential discount for term product, which now offers a discounted rate of 5.29% and maximum LTV of 90%, and their BTL and holiday let discount for term products, which both now offer a discounted rate of 5.79% and a maximum LTV of 80%.
Oliver continued: “We are also delighted to be reducing interest rates across our whole product range, with products available for applicants with a wide range of requirements.
“As we continue to make changes to our offering, we want to assure our partners that maintaining our service levels remains our top priority.”
