Dudley Building Society increased its maximum loan-to-value (LTV) from 75% to 80%. 

The LTV increase applies to Dudley’s year discount and 2, 3 and 5-year fixed rate residential products.

The society has also reintroduced an interest only repayment option for its residential 1.05% discount for term product.

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The society re-entered the market at the end of August, when it started to launch products in a phased fashion to better manage demand.

Sam Ward, commercial director at Dudley, said: “Having launched a series of new and exciting products in specialist niches such as shared ownership, right to buy, self-build and holiday let funding, the society feels the time is right to look again at the core residential mortgage proposition.

“To that end, we have taken the next step by improving residential LTVs and reintroducing an interest only repayment option via a new discounted product.”

Ward added: “We are tuning our criteria in a way that increases our caseload in proportion to our ability to process, thus maintaining our reputation for not only meeting the expectation of our customers for competitive funding solutions, but also providing a fast reliable service to our introducer partners.”