Darlington Building Society has launched a new suite of 5-year fixed-rate products under the Own New Rate Reducer scheme, offering up to 95% LTV on new-build homes across the UK, excluding London. The range is open to first-time buyers, skilled workers and those on spousal or skilled worker visas.
The products have been developed in partnership with Own New, a platform that supports access to new-build housing through lender collaboration. The Rate Reducer structure enables developers to apply 3% or 5% incentives directly to the mortgage, resulting in lower monthly repayments. Standard product rates begin at 4.49% for the 3% incentive and 4.19% for the 5% incentive.
Darlington has also launched visa-specific versions of the Rate Reducer, with rates set at 4.99% (3% incentive) and 4.69% (5% incentive). These sit alongside the Society’s broader visa lending policy, which includes no minimum income threshold for 95% LTV, no minimum UK residency period, and credit assessments based on searches rather than scores. Skilled worker visa holders are accepted with two years remaining on their visa, while spousal visa income is allowed if the joint applicant is a British National or holds indefinite leave to remain.
Chris Blewitt, head of intermediary distribution at Darlington Building Society, said: “Demand for new-build homes remains strong, particularly among buyers facing barriers with mainstream lenders, and visa status is one of the most common reasons clients fall outside standard criteria. Brokers are telling us they’re seeing a real rise in enquiries from skilled workers and foreign nationals, many of whom are keen to get on the ladder but need greater flexibility in how affordability is assessed.
“By partnering with Own New, we’re giving brokers a practical option to support these buyers with competitive rates and lower monthly payments. It builds on the Society’s wider strategy to support underserved borrower groups and respond directly to what intermediaries are seeing on the ground.”
Eliot Darcy, founder of Own New, added: “Affordability remains one of the biggest barriers for buyers, especially as monthly costs stay high and interest rates remain well above historic norms. People aren’t just looking for a mortgage; they’re looking for something manageable, and that’s exactly what Rate Reducer is designed to do.
“Channelling housebuilder incentives into the mortgage itself, rather than upfront costs, means buyers can access lower monthly repayments from day one. Our collaboration with lenders like Darlington Building Society means we can extend this benefit to more people, particularly those who may be underserved by mainstream options.”
