"We are also acutely aware of those borrowers whose fixed rates deals are coming to end this year, and who are likely to see a rise in their mortgage interest rate."
- Chris Brown, director of products and marketing
Darlington Intermediaries is reducing mortgage rates by up to 1.10% across its range.
The changes will go live from 10th-20th January across standard, specialist, national, local, older borrowers, shared ownership, repayment, interest-only and more specialist criteria.
A new first-time buyer mortgage at 95% LTV is launching at 4.99% and a two-year fixed rate at 95% LTV for local borrowers (available to those in DL, TS, DH, YO, SR and HG postcodes) is reducing by 0.80%.
In addition, two new exclusive remortgage products, available through Legal and General and Simplybiz, have launched at 80% LTV.
Darlington Intermediaries has also launched a new tech upgrade to save brokers time. The vast majority of information from a Decision in Principle or a full mortgage application can now be prepopulated from brokers’ CRM systems into Darlington Intermediaries’ mortgage system. The upgrade is built into the Iress MSO platform, so brokers can click “Apply” to experience the new and improved journey, with no extra software required.
Chris Brown, director of products and marketing, said: “I’m delighted to announce this raft of mortgage rate reductions. Being able to deliver such competitive rates in such a fierce market feels very rewarding and speaks to our ethos as a building society. By dynamically adjusting our mortgage range to stay ahead of the curve, we can help more people in many different circumstances start the New Year in the best possible way, by achieving their homeownership aspirations and getting the home of their dreams.
“As has been well documented, we are also acutely aware of those borrowers whose fixed rates deals are coming to end this year, and who are likely to see a rise in their mortgage interest rate. Therefore the Society has been working in partnership with L&G and Simplybiz, to develop an exclusive remortgage product, which we hope will go some way to soften the impact for these borrowers.
“We facilitate complex cases, but we want to make processing these applications plain sailing. Staying ahead of the curve in the specialist lender space, we are using API technology to enable brokers to prepopulate applications. This saves them valuable time to ultimately help more people buy their dream homes, speaking directly to our purpose as a building society; to help look after people’s savings and support their journey to home ownership and beyond.”
