"The increase from 75% to 80% LTV is a direct response to broker feedback and gives more room for landlords needing to raise capital or repurpose a previous residential property"
- Christopher Blewitt - Darligton Building Society
Darlington Building Society has expanded its buy-to-let mortgage offering by increasing the maximum loan-to-value (LTV) to 80% across its range, including products for expat borrowers and holiday let investors. The lender has also introduced new five-year fixed-rate deals aimed at providing brokers with additional flexibility.
The updated products, which are available from today, are designed to support landlords looking to remortgage former residential properties, raise capital, or secure fixed-rate terms for holiday lets that allow personal use.
Headline rates include:
Buy to let (5-year fixed): 5.19% with a £999 fee
Expat buy to let (5-year fixed): 5.49% with a £999 fee
Holiday let (5-year fixed): 5.49% with a £999 fee
All products benefit from a reduced income coverage ratio (ICR) stress rate set at the pay rate plus 1%, which may improve affordability at the higher LTV threshold.
Darlington’s existing buy-to-let criteria remain unchanged. These include no minimum income requirement, eligibility for first-time buyers and first-time landlords, remortgage options for properties previously used as a main residence, and up to 90 days of personal use for holiday let properties.
The decision to raise the LTV ceiling from 75% to 80% comes in response to broker feedback, particularly in relation to expat clients. Higher-LTV remortgages have been harder to access in this segment, and the Society aims to address that gap with its revised product terms.
This latest update follows Darlington’s announcement in June that it had joined the Mortgage Intelligence panel, a move that strengthens its intermediary network and widens access for brokers nationwide.
“We’ve built a buy-to-let range that genuinely works for brokers, with real-world criteria and products that support clients across a variety of situations,” said Christopher Blewitt, head of mortgage distribution at Darlington Building Society. “The increase from 75% to 80% LTV is a direct response to broker feedback and gives more room for landlords needing to raise capital or repurpose a previous residential property.
"Whether it’s an expat looking to remortgage their former UK home onto a buy-to-let, or a holiday let owner looking to optimise cash flow, these changes give brokers another practical option.”
