Dudley Building Society has cut mortgage rates by as much as 1.30% across its residential, buy-to-let (BTL) and specialist lending products.
The updated range includes two- and five-year fixed rate products and two-year discount options tailored to owner-occupiers, landlords and specialist borrowers.
This includes those applying under Dudley’s expat and recently launched skilled worker visa criteria.
The association’s updated rates now start at 4.80%. The discounts include the two-year BTL discount for expats with a fee of £999 at a loan-to-value (LTV) of 70%, which has been reduced from 6.40% to 5.10%, and the equivalent product with an LTV of 80%, which has been reduced from 6.60% to 5.30%.
Expat BTL five-year fixed rate up to 70% LTV has been reduced by 0.44% to 5.15%.
The company has also implemented discounts of 0.60% on its residential two-year interest rates up to an LTV of 65%, with rates now starting at 4.80%.
Five-year BTL fixes up to 70% LTV have also been reduced by 0.70% to 5.10% and two-year fixes for skilled worker visas up to 80% LTV have been reduced by 0.55% to 4.90%.
As part of the changes, Dudley has aligned a number of its five-year fixed term products to the new end dates of April 30, 2031, while also updating the ERC structures across the range.
All five-year fixes have a graduated ERC profile of 4%, 3%, 2%, 1%, 1%, while two-year fixes and discounts include ERCs of 3%, 2% and 2%, 1%, respectively.
Paul Purewal, head of intermediary relations at Dudley Building Society, said: “This innovation is about making life easier for agents at the point of listing. We have focused on areas where prices can be tightened, while also bringing greater consistency between end dates and product structures.”
Elsewhere, HSBC has announced it will increase mortgage rates from tomorrow (February 4).
The change includes increases to the home mover’s two-year LTV from 60% to 95%%, which can increase by up to 0.10%.
In addition, two-year interest rates for first-time buyers with LTVs of 60% to 95% will increase by up to 0.10% and selected five-year rates will increase by up to 0.07%.
HSBC will also increase rates by up to 0.07% on its two- and five-year remortgage products between 60% and 75% LTV.
Meanwhile, Principality Intermediaries has increased prices across several product ranges.
The lender’s residential five-year fixed products with an LTV of 80% and 85% will increase by up to 0.12%, while the three-year fixed products with an LTV of 85% and 90% will increase by 0.10%.
The two-year fixed housing product with cashback at an LTV of 65% increased by 0.11% and the five-year equivalent by 0.13%.
Products for sole proprietorships with a joint borrower have also changed, including the two- and five-year fixed products with an LTV of 80% and 85%, which have increased by 0.11% and up to 0.12% respectively.
The new two-year fix at 75% LTV Help to Buy Wales has increased by 0.15%, while the BTL five-year fixes at 60%, 70% and 75% LTV have increased by 0.14%.
And the two- and five-year fixes for holiday rentals at a 60% LTV have increased by 0.12% and 0.20% respectively.
Finally, Foundation has made changes to a limited number of its BTL products.
These include the lender’s five-year F1 fix with a 4% fee and the F1 and F2 green products with a five-year term.