Darlington Intermediaries cuts rates on residential mortgages and extends 90% LTV nationally

Darlington Intermediaries cuts rates on residential mortgages and extends 90% LTV nationally

DARLINGTON Intermediaries is returning its low deposit mortgage offer to the national market to help people around the country onto the housing ladder.

The decision to make its 90 per cent loan to value (LTV) mortgage available nationally is part of the Society’s drive to support people owning their homes.

Since the start of the Covid-19 pandemic, the 90 per cent LTV product has been restricted to the Society’s local communities. However, Chief Customer Officer, Darren Ditchburn, says the time is now right to return to the national market as restrictions are eased.

“It’s a really positive step to be able to offer higher loan to value mortgages on a national basis again, and to be supporting more people beyond our local area in realising their dream of buying a home.”

Darlington Intermediaries also offers a 95 per cent LTV mortgage to key workers in its local area.

Pricing on the Society’s standard residential mortgage products have also been reduced by up to 0.30 per cent.

The new deals, available on Wednesday 9 June, are:

•    A 90% LTV two-year fixed-rate purchase / remortgage product at 3.39%, cut by 0.10%, with a free basic valuation, £999 product fee, £120 completion fee, and extended to national availability (England, Scotland & Wales).

•    A 80% LTV two-year fixed-rate purchase / remortgage product at 2.39%, cut by 0.30%, with a free basic valuation, £999 product fee, £120 completion fee, national availability (England, Scotland & Wales).

•    A 80% LTV five-year fixed-rate purchase / remortgage product at 2.59%, cut by 0.30%, with a free basic valuation, £999 product fee, £120 completion fee, national availability (England, Scotland & Wales).

•    A 80% LTV two-year discounted-rate purchase / remortgage product at 1.99%, cut by 0.10%, with a free basic valuation, £999 product fee, £120 completion fee, national availability (England, Scotland & Wales).

•    And a 75% LTV five-year fixed-rate BTL purchase / remortgage product at 2.99%, cut by 0.10%, with a free basic valuation, £999 product fee, £120 completion fee, national availability (England and Wales).

“These are all positive steps forward to enable Darlington Intermediaries to play its part in helping people onto the housing ladder while the cost of borrowing is low,” added Mr Ditchburn.

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