Dudley Building Society has today announced the launch of new mortgage products especially designed for self employed customers.
The new Self-E product range is the society’s response to the increasing number of self employed on the market. The society also aims at providing options for customers who are getting turned away by other lenders because they do not meet certain mortgage application criteria.
Headline rates across the Self-E range are:
- 3.29 per cent (1.7 per cent standard variable rate (SVR) discount) with three years accounts. The products are available at 90 per cent loan-to-value. The minimum loan amount is £25,000 with a maximum of £350,000 and a fee of £1,450.
- 3.99 per cent (1 per cent SVR discount) with two years accounts. The products are available at 75 per cent loan-to-value. The minimum loan amount is £25,000 with a maximum of £350,000 and a fee of £1,450.
- 4.49 per cent (0.5 per cent SVR discount) with one year accounts. The products are available at 75 per cent loan-to-value. The minimum loan amount is £25,000 with a maximum of £350,000 and a fee of £1,450.
Jeremy Wood, chief executive at the Dudley commented:
“The new product is designed to show our introducers that the Society’s support for the self employed is more than just a sound bite. Many lenders pay lip service to their concern for the self employed applicant but our product is in place for brokers to offer self employed clients a real alternative designed specifically with them in mind.
“Along with our strong standard product range, our aim this year is to give advisers lending options for clients whose circumstances are being ignored and over the next few months we will be making new announcements as we seek to provide innovative and sensible solutions to the more common lending issues.”
