Dudley Building Society has announced the launch of three new remortgage products following a mortgage maturities spike in December.

The society indicated its products are aimed at the remortgage channel with free standard valuation, free legal fees and a fixed £499 administration fee.

The new products include a three-year fixed rate at 3.84% and a two-year discount product at 3.79%, which both come at 85% LTV. Dudley has also introduced a 1.05% discount for term interest only product at 3.94% and 75% LTV.

Dudley commercial director, Sam Ward, suggested there is “growing need” to ensure that advisers have strong remortgage options.

“We are delighted to announce the launch of a range of fees assisted remortgage products,” Ward said. “December was the biggest month for mortgage maturities in 2020, with almost 170,000 accounts reaching the end of existing deals, according to data from CACI.”

“We recognise now more than ever, how important it is to support broker customers by providing product options which suit their needs during this challenging time.”

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