Darlington trims rates by up to 40bps across mortgage range

Darlington Building Society has repriced its mortgage range, reducing selected rates across standard residential, specialist residential and specialist BTL by up to 40bps.

Effective immediately, the changes apply across selected two- and five-year fixed-rate products for purchase and remortgage business.

The repricing ranges across a broad range of borrower profiles, with lower rates available to first-time buyers, Visa borrowers and limited company landlords across both mainstream and specialist lending.

Chris Blewitt, head of mortgage distribution at Darlington Building Society (pictured above), commented: “Fixed-rate pricing is facing renewed pressure, and funding costs have become more challenging again in recent weeks.

“Against that backdrop, lenders need to be selective about where they can make meaningful reductions, rather than responding in the same way across an entire range.

“For brokers, the important point is that opportunities to secure better pricing are still there.

“We have been able to make some significant reductions, including 40bps on our five-year specialist BTL product, while also cutting rates across several areas of our residential and specialist ranges.

“Where the funding position allows us to sharpen a rate and improve the options available to brokers and their clients, we want to act on it.”