Dudley cuts all fixed rates by 0.30%

Dudley Building Society is introducing new buy-to-let products, cutting rates and changing criteria.

The lender has reduced rates on all its fixed rates by 0.30 per cent, with rates now starting from 2.99 per cent.

Dudley has rolled out new three- and five-year discount mortgages, with a maximum early redemption charge period of three years.

The lender will now lend to £1m on most of its products, compared to £500,000 before, and has reduced minimum income to £20,000 per application.

The society has also brought in the option to drop early redemption charges on some loans.

Additionally the firm has removed LTV requirements on background residential property.

Dudley Building Society head of credit Jonathan Moore says: “Landlords have been in the firing line over the past twelve months because of the stamp duty changes and, with the tapering effect on tax relief due to start in 2017, 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.”