Dudley Building Society has cut buy-to-let rates by up to 100 basis points (bps), as part of a wider round of reductions across its residential, holiday let and expat mortgage ranges.
The changes are available for both purchase and remortgage cases, spanning selected two-year and five-year fixed rate products, as well as discounted products.
The buy-to-let two-year fixed at 80% LTV has been reduced to 5.50%, down from 6.30%, while the holiday let two-year fixed at the same LTV now sits at 5.55%, cut from 6.30%. Landlords and portfolio investors weighing up remortgage options may find the lower buy-to-let rates particularly relevant given recent volatility in swap pricing.
Highlights of the refreshed range include:
- Residential expat two-year fixed at 85% LTV, now available at 5.50%, reduced from 6.50%
- Residential expat five-year fixed at 75% LTV, now available at 5.50%, reduced from 6.50%
- Residential standard two-year discount at 90% LTV, now available at 5.40%, reduced from 6.15%
- Buy-to-let two-year fixed at 80% LTV, now available at 5.50%, reduced from 6.30%
- Holiday let two-year fixed at 80% LTV, now available at 5.55%, reduced from 6.30%
"We've seen plenty of movement on rates over recent months, and it's fantastic to be able to make such significant reductions across our range," said Paul Purewal, head of intermediary relations at Dudley Building Society (pictured).
"But a competitive rate only gets you so far if a lender isn't prepared to look at the detail of a case.
"That's why we've continued to balance competitive pricing with a manual underwriting approach that gives brokers the opportunity to discuss cases with an experienced decision-maker.
"Whether it's an expat borrower, a holiday let application or a more straightforward residential case, we want brokers to know they'll receive the same level of support. Every case is assessed on its own merits, helping us find sensible lending solutions for a broader range of borrowers."
