Darlington Building Society has cut rates by up to 0.50% across its buy-to-let (BTL), residential and specialist mortgage ranges.
The changes are aimed at supporting brokers working with landlords, first-time buyers (FTBs) and clients with more complex income.
The 5-year fixed-rate standard BTL product at 80% loan-to-value (LTV) is now 5.49%, down from 5.99% – a reduction of 0.50%.
Residential products have also seen reductions, including the 2-year fixed-rate at 80% LTV, now at 5.29%, down by 0.25%.
Specialist residential rates have been reduced by up to 0.30% for borrowers with complex income, including those on visas or with non-standard earnings.
The changes apply to both purchase and remortgage business, except for the 95% LTV residential product, which is available for FTBs only.
Chris Blewitt (pictured), head of mortgage distribution at Darlington Building Society, said: “We have focused on making meaningful reductions where we know there is demand, particularly within buy to let and higher LTV residential lending.
“For brokers, it’s about having options that give them a better chance of placing cases without having to compromise on the client’s situation, whether that is a landlord reviewing portfolio costs, a first time buyer stretching affordability, or a client with more complex income that needs a more considered approach.
“As always, the aim is to remain consistent in how we approach lending, with a common sense view on cases and a willingness to look at scenarios that may not fit a more automated approach.”