"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"
As a result, the Society can continue to lend on standard residential mortgages up to 90% LTV and on specialist residential cases up to 85% LTV.
It is also lending up to 70% LTV on buy-to-let mortgages and continues to offer its shared ownership range up to 95% loan-to-share.
Darlington says pay rates will be maintained across most of its range and has reduced its SVR from 5.95% to 5.30%, passing on the 0.65% reduction from the Bank of England.
Earlier this year, 'Darlington Intermediaries' was given its own brand identity within the Society.
Ben Blyth, head of intermediary distribution, commented: “These are obviously difficult times, but new business has performed steadily during the lockdown period, and we are confident about our position as a specialist lender, with the criteria to back it up.
“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."
