Published: 27 September 2022
Despite ongoing volatility in the financial markets, Darlington Building Society is continuing to offer mortgages to both new and existing members.
This includes members coming to the end of their current mortgage deal and to new borrowers seeking to purchase or re-finance their existing mortgage.
However, in the light of the challenging market conditions, and the consequent difficulties in pricing longer-term fixed rate mortgages, we have temporarily reduced the range of mortgages available to new applications to variable rate only. The Society will keep the position under review and will expand the range to include fixed rate mortgages when more certainty returns to the market.
Applications for mortgages already accepted by the Society, and open mortgage offers, will continue to be processed and rates honoured.
Andrew Craddock, Chief Executive, said: “As always, our members, both borrowers and savers, are at the centre of every decision we take. It is imperative that we make the right decisions at the right time to ensure the Society remains sustainable and resilient, so that we can continue to serve our members for another 166 years and beyond. We remain committed to supporting brokers and members during these challenging times and urge borrowers to contact us if they have any concerns.”
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