The products are available on new-build purchases and are open to first-time buyers, skilled workers and those on visas.
Darlington Building Society first partnered with Own New in 2022. Own New is a homeownership initiative that supports new-build purchases, excluding those in London, with lower rates and monthly repayments.
Over 150 developers are signed up to the scheme.
Rates start from 4.19% and are aligned with developer incentives, offering either a 3% or 5% contribution.
The five-year fix for a 3% incentive is priced at 4.49% and the option for a 5% incentive is priced at 4.19%.
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There are also options for borrowers on Skilled Worker or Spouse visas; the 3% incentive product is priced at 4.99% and the 5% incentive product at 4.69%.
Darlington Building Society will assess visa applicants on its usual visa criteria.
This includes no minimum income requirement or minimum period of UK residency. The mutual can also assess applicants through a credit search, rather than the usual credit score.
It will consider Skilled Worker visa holders with at least two years remaining on their visa, and spousal visa income will be accepted where the joint applicant is a British national or has indefinite leave to remain.
Chris Blewitt (pictured), head of intermediary distribution at Darlington Building Society, said: “Demand for new-build homes remains strong, particularly among buyers facing barriers with mainstream lenders, and visa status is one of the most common reasons clients fall outside standard criteria. Brokers are telling us they’re seeing a real rise in enquiries from skilled workers and foreign nationals, many of whom are keen to get on the ladder but need greater flexibility in how affordability is assessed.
“By partnering with Own New, we’re giving brokers a practical option to support these buyers with competitive rates and lower monthly payments. It builds on the society’s wider strategy to support under-served borrower groups and respond directly to what intermediaries are seeing on the ground.”
Eliot Darcy, founder of Own New, added: “Affordability remains one of the biggest barriers for buyers, especially as monthly costs stay high and interest rates remain well above historic[al] norms. People aren’t just looking for a mortgage; they’re looking for something manageable, and that’s exactly what Rate Reducer is designed to do.
“Channelling housebuilder incentives into the mortgage itself, rather than upfront costs, means buyers can access lower monthly repayments from day one. Our collaboration with lenders like Darlington Building Society means we can extend this benefit to more people, particularly those who may be under-served by mainstream options.”
