History

The Dudley Building Society was founded in 1858 by the members of the Tanfield Family. Their head office is located in Dudley, West Midlands. It remains an independent mutual society and is a member of the Building Societies Association.

More than two thirds of the Dudley Building Society live locally and there are 68 staff members, of which 1/5th have over 20 years of service. The Dudley Building Society has withstood the borage of mergers and takeovers and remains firmly routing in the community.

In June, 2010, they announced their year-end results which revealed a increase in its total assets to £313m, which represents growth of just under 2% for the year. Member's savings balances increased by £5.5million in the year ending March 31, 2010. They are attributing this growth as confirmation at the Society has defied the wider trend of financial institutions who continue to struggle and their success is due to never losing sight of its purpose - to look after local communities for whom it was formed in the first place.

Remortgages offered through Dudley Building Society

If would like to obtain a remortgage with the Dudley Building Society there are two options:

In person - at one of the branches, you will be served by a mortgage interviewer will confirm all the services and complete a questionnaire. They will provide a Key Facts Illustration detailing all the information and then you can complete an application if interested.

By phone - all the information can be conveyed, including the types of services, including the questionnaire, and finally the application has to be signed, this can be done by post.

The remortgage schemes offered are:

Discounted - your initial rate will be set at a discount off the Society's residential standard variable rate for 3 years. A further discount is awarded for mortgage advances below 80% LTV. After the discount period the mortgage will revert to the residential standard variable rate. There is no arrangement fee. This product is flexible - overpayment and payment holidays are allowed, with conditions. An early repayment charge applies within the discount period.

Cashback - your mortgage will be set at the Society's residential standard variable rate. A further discount is awarded for mortgage advances below 80% LTV. A Cashback sum is returned to you. The amount will depend on how much you borrow and an early repayment charge applies for the first 5 years.

Flexible Discount - your rate will be set at a discount off the Society's residential standard variable rate for the first 5 years. It will then revert to the Society's long term borrower discounted variable rate for the rest of the mortgage term. The initial discount will not be more than 1% above the Bank of England base rate. This product is flexible - overpayment and payment holidays are allowed - with conditions.

Stepped Discount - this is a re-mortgage option and your rate is set at a rising discount rate for the first 3 years. The discount is set off the Society's residential standard variable rate. After the 3 year stepped discount your mortgage will revert to the Society's residential standard variable rate. There is no arrangement fee. An early repayment charge applies for the first 3 years.