Buy-to-let
Dudley Building Society has released a range of products aimed at the buy-to-let market.
Features of the new range include:
-Two new discounted rate for term products for purchase and remortgage from 3.19% up to 70% loan-to-value (previously 3.99%), 3.49% up to 75% LTV (previously 4.24%).
-Two new three-year fixed rate products for purchase and remortgage from 3.29% up to 70% LTV (previously 4.24%), 3.59% up to 75% (previously 4.49%).
-Two new five-year fixed rate products for purchase and remortgage from 3.59% up to 70% LTV and 3.89% up to 75% LTV.
-Tiered buy-to-let rental calculations from 125% dependent on LTV (125% for up to 70% LTV and 130% for up to 75% LTV; 140% for flats across all LTVs).
Jonathan Moore, head of credit at Dudley, said: “Landlords can choose between discounted rate products where the discount from the SVR lasts for the term of the mortgage or three or five year fixed rate options. Capital repayments of 10% of the advance amount can be made every year, along with interest only and repayment options.
“The buy-to-let market is readjusting to the recent changes to tax relief and our Society has responded with a comprehensive range of attractively priced products, where we have cut rates in some cases by up to 0.8%.”
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