mortgage lender .co.uk

Darlington Building Society

The society has been offering mortgage and savings products for over 150 years to the local people of County Durham, Tees Valley and North Yorkshire. It remains a mutual society and therefore uses all profits for the benefit of its members via good value mortgage and savings accounts and quality service provision. The Head Office is based in Darlington, County Durham and there are 13 full service branches plus 3 community branches that are based in solicitor offices.

The Darlington Building Society offers a range of mortgage products including standard variable rate, fixed, tracker and discount. You can apply for a mortgage if you are a first time buyer, moving home or would like to move from another lender. Interest rates will depend upon the type of mortgage you choose, how long the offer period is for and how much deposit you can provide. There are often extra incentives for customers who live in the areas mentioned above including free valuations or legal fees, there are restrictions on overpayments and you may have to pay a penalty if you repay more than 10% of the outstanding mortgage loan during any fixed, discount or offer period. If you pay off the whole of your mortgage balance before the agreed date you will be required to pay a 3% Early Repayment Charge.

The usual Maximum Loan to Value is 70% but discuss this with your mortgage advisor if you think you may need to borrow more. All mortgages from the Darlington Building Society charge a product fee of 1% of the loan.

Most mortgages are portable so if you move home within the offer period you can take the product and its special features with you to the new property.

 

Darlington Building Society Mortgage Products

Discount mortgages: With these products you will have a guaranteed discount from the Society's Standard Variable Rate for an agreed period of time, your monthly payments may rise or fall to reflect changes in the Bank of England Base rate. At the end of the discount term you will switch to the Society's standard rate.

Fixed mortgages: If you choose this mortgage you will have the security of knowing exactly what your monthly payments will be over the period of the fixed rate. This option is popular with customers who believe that the Bank of England Base rate will rise and are concerned that mortgage interest rates will become higher.

Tracker mortgages: Your interest rate will track the Bank of England Base rate at an agreed extra percentage, your monthly payments may therefore increase or decrease in line with any changes. If you believe that the Base rate may fall then this product may be suitable for you.

If you are interested in a mortgage quotation including those offered by Darlington Building Society please complete our quick enquiry form.