Darlington BS to lend at 6x income on new range

Darlington Building Society has launched a new Professionals mortgage range which will offer up to six times an applicant’s salary for borrowers working in specific industries.

Related topics:  Mortgages
Rozi Jones
26th November 2018
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"We provide an increased multiplier on salary to acknowledge the earning potential of these individuals and wanted to get them into their homes sooner."

Jobs covered include accountants, actuaries, barristers, dentists, engineers, medical doctors, optometrists, pharmacists, solicitors or vets.

All applicants must be qualified, practising and registered with the appropriate industry body. When assessing suitability, the Society will look at current salary plus an assessment of future earnings, with a maximum LTV of 90%.

Caroline Darnbrook, the Society’s director of products and marketing, said: “We wanted to launch this exciting proposition to help professionals get on the housing ladder and move into their own home at a time to suit them.

“We provide an increased multiplier on salary to acknowledge the earning potential of these individuals and wanted to get them into their homes sooner.

“We have included engineers in our offer as this is something that is a strong part of our culture in the North East and we have good knowledge and experience of people working in this field.

“As a specialised lender which considers every case individually, we are pleased to be able to provide these solutions for people looking for a mortgage that is slightly out of the ordinary.”

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