Darlington launches 2-year fixed buy-to-let products from 4.54%

Darlington Building Society has launched a refreshed range of 2-year fixed rate buy-to-let products, including a bespoke remortgage deal for landlords starting from 4.54%.

Available from today, the new products are designed to give brokers more flexibility in supporting a wide range of landlord clients, including first-time landlords, expats, and holiday let investors.

BESPOKE REMORTGAGE PRODUCT

Chris Blewitt of the Darlington — Chris Blewitt, Darlington Building Society

Christopher Blewitt, head of mortgage distribution at Darlington Building Society, said: “Our aim with these new products is to give brokers more ways to meet the needs of their landlord clients, whether they’re looking for a short-term deal, a competitively priced remortgage, or something outside the usual criteria.

“This is our first time offering a bespoke remortgage product in the buy-to-let space, and the combination of rate and fee makes it a compelling choice especially on higher loan amounts.

“We know how valuable flat fees can be for brokers working with portfolio landlords or clients who need a simple and predictable pricing structure.

“Alongside our established criteria for expats, holiday lets and first-time landlords, these new products provide brokers with real choice and flexibility.”

Headline rates include:

2-Year Fixed BTL: 4.79%
2-Year Fixed BTL Remortgage: 4.54%
2-Year Fixed Holiday Let: 5.19%
2-Year Fixed Expat BTL: 5.19%
2-Year Fixed BTL (Retention): 4.89%

The Society says that the new remortgage product is particularly well suited to borrowers with larger loan sizes. Instead of a percentage-based fee, it features a flat fee of £2,499, which can offer a lower overall cost where loan amounts are higher.

The Society’s buy-to-let range continues to offer broad criteria, including lending to first-time buyers and first-time landlords, capital repayment, interest-only, and part and part options, and no minimum income requirements. For holiday lets, up to 90 days of personal use is permitted, with a required letting period of 42 weeks and maximum LTV of 75%.

This product launch follows the Society’s announcement earlier in May of new high LTV residential products and reductions across selected fixed rates, further strengthening its intermediary offering.