• Iress Mortgage Sales and Originations (MSO) platform, typically associated with larger High Street lenders, will now be used for rate switches as well as initial applications at Darlington Intermediaries
  • Rates reduced on standard residential mortgages
  • Later life lending on interest only mortgages reintroduced
  • No age limit on repayment mortgages

 

Darlington Intermediaries has announced a raft of changes to its mortgage offering and processes, to support more complex cases, deliver an efficient broker experience and support financial freedom for more people in later life.

Brokers with more complex cases can now experience ‘High Street efficiency’ as Darlington Intermediaries’ introduces rate switches to its Iress Mortgage Sales Originations (MSO) platform.

This is in addition to initial mortgage cases, which have been going through the Iress platform for some time, following significant technology investment in 2022 from the Intermediary function of Darlington Building Society.

Chris Blewitt, Head of Intermediary Distribution said; “Dealing with complex cases shouldn’t mean having to deal with complex systems and antiquated processes. This significant investment in Iress reaffirms our commitment to our Broker Partners. We can now deliver all of Darlington Intermediaries’ specialist criteria solutions through an enhanced digital process, providing the feel and efficiency normally associated with a High Street lender.”

Residential Rates Reduced

As well as improving its digital process, Darlington Intermediaries is also reducing rates across its residential mortgage range.

Head of Products, Tom Crossley said; “With swap rates continuing to settle, we are seeing confidence returning to the housing market, our latest round of rate cuts reinforces our commitment to support our borrowers and to help make dreams of home ownership a reality”.

Interest Only mortgages reintroduced for later life lending

Opening up the mortgage market for later life borrowers, Darlington Intermediaries has reintroduced its Interest Only mortgage offering, up to the age of 86.

Head of Intermediary Distribution, Chris Blewitt said; “Later Life Lending is an important and growing lending area, being able to offer our solutions once again to this cohort is fantastic. With no upper age limit on repayment mortgages and an upper age of 86 for Interest Only mortgages, Darlington Intermediaries criteria is offering a viable solution for those looking to purchase or remain in their homes irrespective of their age.”

No age limit on repayment mortgages. 

Supporting financial flexibility regardless of a borrower’s age, there is now no upper age limit for repayment mortgages with Darlington Intermediaries.

Head of Products and Proposition, Tom Crossley said; “We recognise that borrowers’ circumstances are unique, no matter what age they are. We have designed a range of bespoke products to meet the needs of borrowers looking to borrow in and approaching retirement”.