Darlington Intermediaries – the intermediary branch of Darlington Building Society – is proud to say no to ‘computer says no’. In its ambition to help people achieve their dreams of homeownership, even in more complex circumstances, the lender has updated criteria across its range to open up its mortgage offering even further.
From 22 January:
- Borrowers with a Skilled Worker Visa can now borrow up to 90% LTV. With many people from overseas coming to the UK to fill skills gaps, it’s now easier to plant roots and take their first step onto the property ladder here in the UK.
- Ex-Pats can now take advantage of a Holiday Let Mortgage offering up to 75% LTV. As well as a generous maximum of 42 weeks letting period to base the Interest Coverage Ratio (ICR) on, applicants can also use the property for up to 90 days a year themselves.
Chris Blewitt, Head of Intermediary Distribution said:
“We are proud of our specialist approach to lending, and are constantly working with our distribution partners to understand the market challenges. Through these conversations it has been highlighted that there is a considerable demand for higher LTV loans for those on Skilled Worker Visas. With Skilled Workers being a significant part of the UK labour market and the Society having significant knowledge of this market it was felt that a flexing of criteria to cater for higher LTV’s was a challenge we could rise to.
“We have also incorporated a new Ex-pat Holiday Let product, again responding to changes in the market and facilitating those who may find it difficult to find a mortgage to suit their unique circumstances with a traditional high street lender.”