Sesame Bankhall Group (SBG) and Darlington Building Society have joined forces to introduce a brand new mortgage product, which will be exclusively available PMS Mortgage Club and Sesame Network members.
This product comes with LTV of 95% and it is a fixed rate five-year mortgage. The rate has been set at 5.49% for that period. The loan is set to be available to those who wish to remortgage, people who are looking to move house and borrowers who are trying to buy a first home. The maximum sum that can be borrowed is £300,000.
Those who take out one of these mortgages will have the option of repaying it over a period of 40 years if they prefer. Darlington BS is indicating that it will offer an expansive range of criteria; with commission, bonus and overtime income all potentially factored in to help borrowers qualify.
Chris Blewitt from Darlington Intermediaries said to Financial Reporter that:
“Those with low deposits are among the most in need of innovation and support given the current challenges in the housing market.”
He then stated he was pleased to be able to announce this loan in collaboration with SBG and that it had been designed to help as many people to achieve their housing market dreams as possible.
Professionals who have completed CeMAP mortgage advisor training will always be happy to see new products hitting the market. That is especially true if they come with criteria that are inclusive of borrowers with differing situations and needs.
