Intermediary News Roundup – July 2024
Welcome to the intermediary news round up for July 2024.
In this edition, we reflect on a busy and high achieving month, from increases in our mortgage book to our notable recognitions such as our B Corp certification and being named one of the UK's Best Workplaces for Women. Additionally, we share highlights from our participation in various intermediary events.
Continue reading to see what we’ve been up to and where we’ve been!
In the Press
Throughout July, we have seen a lot of articles published. Here is a selection.
Dudley Grows Their Mortgage Book by £40m
In this article, we announced our annual results, reporting a significant 9.3% increase in our mortgage book for the 2023-2024 financial year, expanding from £436.1 million to £476.8 million.
Robert Oliver, our Distribution Director at Dudley, commented, “Once again, we have had a strong year against a backdrop of economic uncertainty. The cost-of-living crisis continues to affect many mortgage borrowers, and we have consistently supported those with more complex needs who may not be able to obtain a mortgage with high street banks”
Check out our article for more information: Dudley Building Society grows mortgage book by £40m.
The growing role of brokers in mortgage distribution
This article dives into how brokers are being more dominant in the market for mortgage distribution.
It goes on to talk about their increasing share of lending due to market complexities and the demand for specialised mortgage products. Moreover, it highlights predictions from the Intermediary Mortgage Lenders Association (IMLA) and features insights from industry leaders, including our Distribution Director, Robert Oliver.
Robert Oliver goes on to say: “There are still many areas of the market where we’re just beginning to tap into their potential. Self-build mortgages, for instance, hold huge potential, especially considering the chronic housing shortage in the UK. While these cases may present more complexities than usual, they can be rewarding and interesting to work on for brokers.”
Check out the full article.
Why brokers should be looking at the expat market
In this article written by Robert Oliver, he reviews the growing opportunities in the expat mortgage market for brokers, driven by increased global mobility and flexible work arrangements.
He also states that lenders are offering competitive products tailored to expats, allowing brokers to better serve this niche and expand their business.
Check out the article in Mortgage Solutions.
Opportunities in the expat mortgage market
The article analyses the current expat mortgage market, discussing that the typical expat borrower tends to be a professional with a high-paying job from the Middle East, Europe, the US, or Australasia. It highlights the attractive investment prospect of joining the UK housing market for an expat, with lenders such as Dudley Building Society offering expat mortgages in various currencies.
Robert Oliver commented “We recently arranged a mortgage for a client who is purchasing a property in Southampton, where his son is attending university and living with three other students. This scenario is quite common.”
Read more about it in Mortgage Strategy.
An interview with Robert Oliver
In this article, our Distribution Director, Robert Oliver, is interviewed about his time since joining the society in 2022, discussing the society's achievements and strategies since his appointment.
Rob talks about Dudley's focused efforts on relaunching mortgage products, enhancing customer service, and expanding their team. He also emphasises the importance of personalised underwriting to help cater to niche markets like self-employed individuals, retirees, and expats. Finally, he delves into the the future plans of Dudley.
Read more about it in the Intermediary: The Interview with Rob Oliver
Dudley achieves B Corp Certification
In this article, we highlight our newest accomplishment: achieving the B Corp Certification, making us the first regional building society in the UK to do so. The certification verifies our advanced efforts to meet high standards of social and environmental performance, transparency, and accountability.
James Paterson, CEO of Dudley Building Society, commented: "We are passionate about making a positive impact on people’s lives and doing the right thing as a business. That’s why we wanted to join a global movement of like-minded businesses and achieve B Corp certification. We believe the B Corp principles align perfectly with our own strategic pillars – customer, capability, community, and climate. This certification also showcases our dedication to authenticity and transparency as a business."
Read more: Dudley Building Society achieves B Corp certification.
Best places to work for women
In this article, we highlight our recent accolade: being named one of the UK’s Best Workplaces for Women. This certification comes from Great Place to Work UK and is based on feedback from female employees, who praised Dudley for its fair treatment, training opportunities, and recognition.
James Paterson, CEO of Dudley Building Society, commented: “We are extremely proud to achieve this recognition, coming fast off the heels of a great set of annual results, being recognised as a Great Place to Work for the first time, achieving Small Lender of the Year at the L&G Awards, and becoming the first regional Building Society to be BCorp accredited.”
Read more: Dudley Building Society named a UK’s Best Workplaces for Women.
Our team pictured on International Women's Day 2024, with the campaign theme of inspiring inclusion.
Events and Conferences
We’ve attended various intermediary events throughout the month, including roadshows and web shows/webinars. Find out where we've been.
L & G Roadshow in Birmingham
On the 3rd of July, our Telephone Business Development Managers Charlene Howard and Tia-Louise Hickman attended the L&G Roadshow at Edgbaston Cricket Club, Birmingham to represent Dudley Buidling Society.
They set up shop to discuss our unique selling points and explore solutions for brokers complex cases.
Dudley Know How Event
Alongside five other lenders, our Key Account Manager, Sarah Rose, delivered insightful presentations and led engaging round table discussions, providing attendees with a deeper understanding of our lending criteria.
The event was well-received, with participants enjoying a delicious breakfast and lunch while earning a CPD certificate for their professional development.
Highlights from our recent work
Find out what we’ve been up to over the past few months for intermediaries:
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