Intermediary news roundup – June 2024

Welcome to our news round up for June 2024. Have a look through what we’ve been up to and where we’ve been!

This month, we’re thrilled to share insights into our latest ventures, from innovative lending strategies, to company recognition and significant retention rate reductions. Plus, we’ve participated in many exciting events.

 

In the Press

Throughout June, we have seen a lot of articles published. Here is a selection.  

 

Dudley Won ‘Best Smaller Lender’ at the L & G Awards

We won the Best Smaller Lender at the Legal & General 2024 Mortgage Club Awards. This award was presented at the Awards Ceremony at The Guildhall in London on 7th June 2024 and was accepted on behalf of Dudley by our Key Account Manager, Cavina Harrison.

Robert Oliver, Distribution Director at Dudley commented, “Throughout last year, one of our main priorities has been actively listening to brokers and aligning our product offerings with their needs. Last year, we celebrated reaching £600 million in assets for the first time in our 165-year history. We are thrilled to win this award and want to thank all the brokers who voted for us to get us into the final.”

 

Dudley Building Society receives Great Place To Work acknowledgement 

We were awarded the Great Place to Work Certification based on positive feedback from employees, with 83% affirming it as a great place to work, significantly above the UK average.

From our Intermediary Team, to our retail staff, this certification highlights our strong workplace culture, employee satisfaction, and commitment to inclusivity and fairness. 

Read more about our acknowledgement here: Dudley Building Society named Great Place to Work.

 

Complex incomes needn’t complicate the mortgage process

In this article, we discuss the challenges faced by borrowers with complex incomes, such as contractors, self-employed individuals, and those on zero-hour contracts. 

We also dived into the unreliability of automated systems in evaluating these variable incomes and continue to shine the importance of personal underwriting, highlighting how personal underwriting can simplify the mortgage process for individuals. 

Check out our article here: Simplifying Mortgages for Complex Incomes

It was also featured in the Financial Reporter. Check it out here.

 

Why Self Build could be the new build for aspiring homeowners

In this article, Robert Oliver, our Distribution Director, explored why self-build could be the new build for aspiring homeowners. 

Robert Oliver said: "As the average age of a first-time buyer continues to rise, we may soon, if not already, be seeing a shift in how borrowers think about their first home, potentially paving the way for more buyers to self build."

Check out the article submission in Mortgage Introducer. 

 

Dudley Building Society cuts mortgage retention rates

In this article, we look at our recent reduction of mortgage retention rates. These cuts apply to a range of products, including our residential, buy-to-let, holiday let, and expat mortgages. 

These rate reductions aim to provide more competitive options for existing customers seeking product transfers, which are highlighted as a quicker, easier, and cheaper alternative to remortgaging. 

You can read the full story in Bridging Loan Directory here.

 

Why lending into retirement shouldn't be feared 

In this article, our Distribution Director, Robert Oliver explored why lending into retirement shouldn't be feared by borrowers and lenders alike.

Robert Oliver said "Nowadays, having an outstanding mortgage in retirement needn't necessarily be a cause for alarm, as many borrowers comfortably manage their mortgage payments while also enjoying retirement."

Check out the full article in The Intermediary.

 

Website changes

Following concerns and issues in regards to our websites funcionalities, we have been making ongoing amendments to the website to enhance our user experience for Brokers and users seeking to learn about our intermediary products and services.

Some of the changes we've made include; 

On our main navigation, we inserted a Intermediary Portal button at the top to help brokers find quick access to the Intermediary Portal.

We’ve also been adding extra features within our pages to help the user navigate around the website and find the information they need. 

So for example, we implemented a ‘Submit a Product Transfer’ and ‘View our Product Range’ section on our 'How to submit business' page, to forward those who want a refresh on the products we offer or those who want to submit a product transfer with us, we ensure they are put in the right direction. 

Our footer now also features logos for our ‘Best Small Lender’ award and our Great Place To Work acknowledgment.

 

Events and Conferences

We’ve attended several events all over the country and also hosted a various web shows/ webinar – find out more.

 

PMS Mortgage Club - Specialist Mortgage & Protection Live Midlands Exhibition

Sarah Rose and Charlene Howard from our Intermediary Team attended this event, where they discussed our USP's and how we can help place your complex and quirky cases.