Darlington Intermediaries has made a series of rate cuts across its diverse mortgage range, with reductions of up to 1.10%, set to take effect between 10-20 January 2024.
A total of fifteen mortgage products, encompassing various borrower needs such as standard, specialist, and shared ownership, will feature reduced rates.
Additionally, two new exclusive remortgage products at 80% LTV with either a 2-year or 5-year fixed rate will also be available.
The ‘Own New’ mortgage, tailored for first-time buyers, boasts a low 5% deposit requirement, no fees, and a competitive rate of 4.99%.
A prominent feature is the best buy local mortgage, which offers a substantial 0.80% rate reduction on the 95% 2-year fixed-rate mortgage for certain postcode areas.
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.”
He also highlighted the Society’s dedication to existing members, mentioning partnerships with L&G and Simplybiz to develop exclusive remortgage products that aim to assist borrowers facing increased rates as their fixed deals conclude.
Darlington Intermediaries has also made strides in technology to assist brokers, introducing a tech upgrade that allows for prepopulating application data from brokers’ CRM systems, which is expected to reduce errors and expedite the application process.
Chris Blewitt, head of intermediary distribution, added: “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.”
