Darlington Intermediaries has partnered with BuildLoan to expand its self-build mortgage offering even further.
The new mortgage product enables borrowers to access up to £1.5m to cover up to 85% of project costs for self and custom build projects.
Funds can be made available in stage releases, or in advance, in line with Darlington’s flexible approach to lending.
Darlington Building Society was named Best Self-Build Lender at the prestigious Build It Awards 2021.
Chris Blewitt (pictured), head of intermediary distribution at Darlington, said: “Darlington Intermediaries prides itself on tailoring bespoke mortgages and making complex cases simple. This latest mortgage offering, in partnership with BuildLoan, is an extension of that commitment.
“We customise mortgage solutions from a range of over 300,000 lending criteria, this isn’t off-the-shelf lending. Our award-winning self-build mortgages are expanding with the market. Being able to lend up to £1.5m to such projects really helps to solidify our position as leading self-build lenders.
“There is a definite uptick in people wanting to build a home of their own, it’s a growing market that we have been part of for over a decade.
“Self-build harks back to the origination of the Building Society movement centuries ago, it’s deeply rooted in our history and we see it as a big part of our future, too.”
Chris Martin, head of product development and underwriting at BuildLoan, added: “Clients are wanting to build higher spec homes which require a bigger budget. Funds being available at the right time during the build is also important to self-builders.
“Advance stage payment options are a fantastic solution for clients with smaller cash savings pots, particularly if they are building using an offsite-manufactured product that requires a larger up-front payment.”
