Darlington Building Society continues lending with 70% LTV for BTL
By Joe LyonsDarlington Building Society has announced it is still 'open for business', despite the challenges posed by Covid-19
Section: Mainstream
DBS has reviewed its products and intends to maintain competitive pay rates across most of the range and continue lending.
The key areas of lending are:
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Buy-to-let up to 70% LTV
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Standard residential up to 90% LTV
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Specialist residential up to 80% LTV
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Shared ownership up to 95% loan to share
The building society has also introduced desktop valuations to get the best possible estimate of property values from data-driven research, carried out by experienced surveyors.
From 1st May, the Society will be dropping its standard variable rate (SVR) from 5.95% to 5.30%, following the 0.65% reduction from the Bank of England.
Ben Blyth, head of intermediary distribution at Darlington Building Society, said: “Our products are competitive and, with the flexible criteria we have established this year — now supported by desktop valuations — we are confident that a good number of applications can go ahead and we can support intermediaries to reinvigorate the property market.”
Keywords: Darlington Building Society, Darlington Intermediaries, DBS, Darlington, Ben Blyth, buy-to-let, loan to value, residential, specialist residential, shared ownership, desktop valuations, coronavirus