"We’re pleased to continue our long-standing partnership with Darlington BS, now extending till 2030."
- Marcus Bennett, client success director at finova
Darlington Building Society for Intermediaries has relaunched its foreign currency mortgage proposition as part of its specialist range, offering two-year and five-year fixed rates and fees up to 80% LTV.
This relaunch follows a digital upgrade to its mortgage origination platform, powered by finova lending’s MSO technology. This enhancement means mortgage submissions involving foreign income can now be accepted.
Darlington BS’s proposition accommodates for 16 currencies including, but not limited to, Euro, South African Rand, UAE Dirham, Saudi Riyal, Hong Kong Dollar, Japanese Yen, and US Dollar or Canadian Dollar.
Conversions are calculated to Sterling using live interbank exchange rates through Xe.com and all currencies are given a 20% ‘haircut’ to account for currency fluctuations.
“We’re always looking for ways to make our products more accessible and easier to understand for our diverse membership base. Having offered these products previously, the intermediary and underwriting teams are excited to be back in the foreign currency mortgage market.
“Currency upgrades give our broker partners a fantastic tech solution coupled with great criteria, allowing them to better support an often-underserved borrower cohort, whether they are based in County Durham or halfway across the world,” said Chris Blewitt, head of intermediaries at Darlington BS.
Marcus Bennett, client success director at finova, added: “We’re pleased to continue our long-standing partnership with Darlington BS, now extending till 2030.
“By now supporting foreign currency mortgages, together with ongoing enhancements to support more efficient mortgage origination, these improvements will help brokers provide a smooth experience to their customers. We’re excited to continue working closely with Darlington BS to support its ongoing digital transformation.”
