The offering is set at 2.74% and has a maximum loan-to-value (LTV) of 75%.
Virgin Money has also reduced rates across both its longer term residential and buy-to-let mortgage range.
Products include a 75% LTV 2-year fix, cut by 0.25% to 2.94%, and a 75% LTV 5-year fix, cut by 0.30% to 3.34%.
Darlington Building Society offers a range of mortgages from residential and buy-to-let (BTL) through to complex cases, including credit repair.
Knowledge Bank has found that brokers are searching for applications that will not leave a lasting mark on a client’s credit score.
The low deposit mortgage is available to people purchasing a property in the society’s operating postcodes – TS, DL, DH, SR, YO and HG – up to a value of £400,000.
Mortgage Introducer catches up with Mark Whitear (pictured), head of commercial development at Foundation Home Loans, who is currently on secondment with the underwriting team.
The buy-to-let mortgage with a reduced rental income calculation.
The lender uses an ICR calculation at 125% for limited company mortgages.
The product has a 5-year term with a 2-year ERC at a rate of 4.5%.