Darlington Building Society has increased its maximum LTV from 75% to 80%, while also launching new rates for its five-year fixed-rate products.
With immediate effect, these new rates are in force with the lender’s five-year BTL mortgage available from 5.19% with a £999 fee.
Elsewhere, Darlington’s expat BTL and holiday BTL five-year products are both available from 5.49%.
These products also both carry £999 fees.
Christopher Blewitt, head of mortgage distribution at Darlington Building Society (pictured above), said the firm designed its products with “real-world criteria”.
“The increase from 75% to 80% LTV is a direct response to broker feedback and gives more room for landlords needing to raise capital or repurpose a previous residential property,” added Christopher.
“Whether it’s an expat looking to remortgage their former UK home onto a BTL, or a holiday let owner looking to optimise cash flow, these changes give brokers another practical option.”
