Interest Only Discount Mortgage D416

This discounted variable rate mortgage could be for you if you are buying your first home, moving house or simply moving your mortgage from another lender in England, Wales and Scotland.

With this discounted mortgage you benefit from a reduction in our current standard variable interest rate until 31 October 2021. Until then your payments may increase or decrease as our standard variable rate changes, but you will not pay the full standard variable interest rate. If you pay off your mortgage during this time, you will pay an early repayment charge of the following tariffs:

2% of the outstanding balance

Before 31st October 2020

1% of the outstanding balance

Before 31st October 2021

Because you never know when you might want to, you can make one lump sum repayment of 10% off your mortgage during the discount period.

If you think this discounted variable rate mortgage could be for you, carry on reading for more information.

Interest Rate
2.99% until 31.10.2021
For the remainder of the term of the mortgage, changing to our SVR currently
5.95% and remaining on standard variable rate terms for the rest of the mortgage
Overall cost for comparison
5.7% APRC
£499 Product Fee
£120 Account Fee
Key features

£499 Product Fee.

£120 Account Fee.

Available on interest only basis.

One lump sum repayment of up to 10% within the discounted period.

Up to 70% LTV (excluding any fees added).


Basic valuation fee contribution of up to £300.00.


No compulsory insurances.


Your discount mortgage will be governed by our rules, our mortgage conditions and the terms of our offer.

Our mortgages are available to anyone aged 18 or over who meet our conditions. All loans depend on your circumstances and a satisfactory valuation of the property you are buying. Your property will be security for the loan and you may need to provide extra security. You can get a written illustration from any of our branches or from our head office.

Higher lending charge
Not applicable.
Capital repayments
One lump-sum repayment of 10% allowed within the discounted period.
Early repayment charge
2% of the outstanding balance before 31st October 2020 / 1% of the outstanding balance before 31st October 2021

Darlington Building Society are required to provide you with Standard Information which is a representative of the current mortgage, which is set out below:

Society Example
The total amount of the credit
Duration of the contract
25 Years
The duration of the variable period
2 Years 3 Months
The initial variable rate
The amount of the variable rate instalments
The number of the variable instalments
The frequency of the variable instalments
Our Standard Variable Rate (SVR)
The duration of the SVR period
22 Years 9 Months
The frequency of the SVR instalments
The amount of SVR instalments
The total amount payable
The total amount of interest payable
Mortgage exit fee
Product fee
Account fee
The overall cost for comparison
5.7% APRC
Representative example summary

If all or part of your income is in a currency other than Pound Sterling (£), you should be aware about the risks of fluctuations in currency exchange rates. If the value of the relevant currency moves against you by at least 20% then that may make it more difficult for you to afford your mortgage payments.

The Representative Example is based on mortgages sold between 01/01/2018 – 31/12/2018 and if you were to take your mortgage product as at 01/08/2019.

All above information is for illustration purposes only and may vary depending on personal circumstances.

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Want to speak to a friendly staff member?

Sometimes it's easier to discuss things face-to-face. All our branches have staff ready and waiting to talk. If you’d like to discuss your options or you think you need help, call in at your local branch.

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Alternatively call our enquiries line between:

9am and 5pm Monday to Friday (9:30am and 5pm Tuesday) or
9am and 12pm on Saturday

Our staff will be more than happy to help with any questions or queries

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