On the technology side, Darlington has introduced rates switches to its Iress Mortgage Sales Originations (MSO) platform, meaning that brokers with more complex cases can experience “high street efficiency”.
This is in addition to initial mortgage cases, which have been going through the Iress platform after a significant technology investment in 2022.
Chris Blewitt (pictured), Darlington Building Society’s head of intermediary distribution, said: “Dealing with complex cases shouldn’t mean having to deal with complex systems and antiquated processes.
“This significant investment in Iress reaffirms our commitment to our broker partners. We can now deliver all of Darlington Intermediaries’ specialist criteria solutions through an enhanced digital process, providing the feel and efficiency normally associated with a high street lender.”
Residential rates reduced
The lender has lowered residential mortgage rates, in light of swap rates beginning to fall and more confidence coming back to the market.
Darlington Building Society’s head of products Tom Crossley said: “With swap rates continuing to settle, we are seeing confidence returning to the housing market, our latest round of rate cuts reinforces our commitment to support our borrowers and to help make dreams of home ownership a reality.”
Darlington BS reintroduces interest-only later life lending
Darlington Building Society has brought back its interest-only mortgage offering for later life lending up to the age of 86.
Blewitt added: “Later life lending is an important and growing lending area, being able to offer our solutions once again to this cohort is fantastic.
“With no upper age limit on repayment mortgages and an upper age of 86 for interest-only mortgages, Darlington Intermediaries criteria is offering a viable solution for those looking to purchase or remain in their homes irrespective of their age.”
Upper age limit for repayment mortgages removed
The lender has removed its upper age limit for repayment mortgages to support financial flexibility.
Crossley said: “We recognise that borrowers’ circumstances are unique, no matter what age they are. We have designed a range of bespoke products to meet the needs of borrowers looking to borrow in and approaching retirement.”
