The products are open to people with non-standard circumstances, including people with a limited credit history in the UK, who have smaller deposits or who are borrowing later in life.
This includes a three-year fix at 90% LTV product with a rate of 5.59% and an option at 95% LTV, which is priced at 5.89%.
The mutual has also lowered five-year fixed rate options in the same range, with the 90% LTV down from 5.59% to 5.39% and the 95% LTV product cut from 5.79% to 5.69%.
Across its standard residential products, Darlington Building Society has cut the two-year fixed rate at 90% LTV from 5.34% to 5.19% and the corresponding rates at 95% LTV from 5.64% to 5.39%.
Its five-year fix at 90% LTV has been lowered from 5.29% to 4.94%, while the deal at 95% LTV has gone down from 5.39% to 5.14%.
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Christopher Blewitt, head of mortgage distribution at Darlington Building Society, said: “The market remains challenging for brokers, particularly when working with clients who have smaller deposits or non-standard income. With affordability still under pressure, we know how important it is to offer competitive options that reflect the realities advisers and their customers are facing.
“By reducing rates, we’re aiming to give brokers a wider choice of solutions across both standard and specialist lending. That includes cases involving foreign nationals, interest-only into retirement, and purchases at a discount to market value.
“We continue to take a flexible, common-sense approach to underwriting and remain focused on helping brokers place cases that may fall outside the scope of more rigid lending models.”
Buckinghamshire BS adds two-year fixed BTL and adjusts credit repair rates
Buckinghamshire Building Society has launched a two-year fixed buy-to-let (BTL) product and repriced products aimed at people who have repaired their credit rating.
The Everyday Buy to Let product is priced at 5.49% and available up to 80% LTV with a £1,195 product fee. Loan sizes range from £50,000 to £500,000.
The mutual has also adjusted rates across its Credit Revive and Credit Restore ranges by as much as 0.4%.
These include the two-year fixes within its Credit Revive range, now priced at 5.59% up to 70% LTV and 6.09% up to 85% LTV. The two-year discounted rate in its Credit Restore range is now 6.25%, while the three-year fix is 6.39%. Both are available up to 70% LTV.
The products are open to borrowers with historical credit blips who have since recovered but fall outside of mainstream criteria.
Claire Askham, head of mortgage sales at Buckinghamshire Building Society, said: “We know how important it is for brokers to have reliable options for clients who are on the road to financial recovery. By improving the pricing across Credit Revive and Credit Restore, we’re making it easier to support borrowers who don’t always fit the mould but have strong potential to sustain a mortgage.
“Our new fixed rate for Everyday Buy to Let also gives brokers more choice for landlords seeking short-term rate stability. We’re committed to refining our offering in areas that matter most to brokers and their clients.”
In April, the firm reintroduced two-year discounted deals.
