Dudley Building Society reduces rates on retention products and further advance products
We have reinforced our commitment to supporting existing borrowers with an update to our range of mortgage retention products, effective today, Friday, 31st January 2025.
The update includes rate reductions of up to 0.40% on existing retention products, the introduction of new discounted rate products, and an expansion of its interest-only options.
As a mutual, we are dedicated to providing long-term value to its members, ensuring borrowers have access to competitive rates while maintaining their relationship with the Society. These latest updates reflect our ongoing commitment to helping both brokers and borrowers secure the right solutions at the right time.
Supporting borrowers with lower Retention Rates
Designed to help borrowers secure better rates without the need to remortgage, these products offer an attractive solution for those looking to manage their finances more effectively. With rates starting at 4.99% and available up to 95% LTV, these products provide flexible and competitive options for borrowers looking to secure a better deal while continuing their relationship with the Society.
Key Highlights:
Rate Reductions: Two-year fixed rates reduced by up to 0.40%, with standout reductions including:
● Two-Year Fixed at 5.09% (previously 5.49%) at 65% LTV
● Two-Year Fixed at 5.24% (previously 5.59%) at 75% LTV
New Discounted Rate Products:
● Two-Year Discount at 5.24% (65% LTV)
● Two-Year Discount at 5.34% (75% LTV)
Five-Year Fixed Products:
● 4.99% at 60% LTV
● 5.14% at 75% LTV
Expanded Interest-Only Options:
● New Two-Year Fixed & Discount Interest-Only products, starting at 5.24% (60% LTV)
● Two-Year Fixed Interest-Only at 5.49% (60% LTV) and 5.59% (95% LTV)
All retention products have no arrangement fees and allow borrowers to overpay up to 10% of the balance annually without penalty.
Further advance options for existing borrowers
Alongside its retention range update, we have also introduced a new suite of further advance products, designed to give existing borrowers access to additional funds while staying with the Society. With rates starting at 5.44% and available up to 80% LTV, these options provide a valuable opportunity for borrowers looking to finance home improvements, expand buy-to-let portfolios, or support expat investments.
We remain focused on working exclusively through intermediaries, ensuring brokers have access to flexible lending solutions that support their clients across a broad range of needs. As a mutual lender, we will continue to prioritise long-term value and personalised service, rather than shareholder returns.
For more information, check out our latest products.
Robert Oliver, Distribution Director at Dudley Building Society, commented:
“As a mutual, our focus is always on creating long-term value for our members. These changes reflect that commitment by ensuring existing borrowers are well-served with great rates, additional flexibility, and a range of solutions to suit their needs.
“This update offers stability and flexibility, making it easier for brokers to help clients secure the right deal while maintaining the personalised, case-by-case underwriting approach that Dudley is known for. By enhancing our retention and further advance product offerings, we’re aiming to help borrowers stay with the Society and continue to benefit from competitive deals, further strengthening broker-client relationships.
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