Darlington Building Society has launched a refreshed range of two-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.
Standard two-year fixed rates start from 4.79%, with a remortgage deal priced at 4.54%.
A two-year holiday let product is available at 5.19%, as is an expat buy-to-let product, with a buy-to-let retention product launching at 4.89%.
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.
Christopher Blewitt (pictured), 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.”
