In This Article
About Darlington Building Society?
Darlington Building Society is a building society that offers banking and financial services in the UK. They are based in the town of Darlington in County Durham and was established in 1856.
The building society offers a range of savings accounts and mortgages designed to help their members save for the future and realise the dream of owning their own home today.
They aim to provide trusted, value-driven products that inspire and make a positive difference to their members and the local community.
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Darlington Building Society mortgages
Darlington Building Society try to understand that not all mortgage applications are straight forward, and therefore their products are designed to offer individual, common-sense underwriting and flexible lending criteria, which allows them to provide a personalised approach to lending.
Darlington have a manual underwriting approach, assessing each individual case personally, rather than using an automated credit scoring system. This means they can have more flexibility to those that have a lower score due to minor adverse or low levels of credit.
Their mortgages are available in England and Wales and range from fixed and variable rates, they offer:
- First time buyer mortgages
- Foreign income mortgages
- Expat mortgages
- Joint Borrower sole proprietor mortgages
- Later life mortgages
- Right to buy mortgages
- Complex income mortgages
- Interest only mortgages
- Self-employed mortgages
- Contractor mortgages
- Buy to let mortgages
- Buy to let mortgages for portfolio landlords
How competitive are Darlington Building Society’s mortgage rates?
Darlington Building Society aims to offer competitive mortgage rates to its customers.
It is important to review the whole market, and your current and future situation to decide if the mortgage is competitive and suitable for you.
There are many aspects of the product that you should check, these are the initial interest rate, revert rate, fees charged, the flexibility of the product and so on.
A mortgage advisor can compare and review all products available to you in the market and can recommend the most suitable deal for you.
Can I switch my mortgage deal with Darlington Building Society?
If you are an existing customer of Darlington Building Society and your initial rate is coming to an end, you may be eligible for a product switch.
Darlington Building Society will normally get in touch a few months prior to the end of your initial mortgage deal.
An independent mortgage advisor can help you with switching your rate with Darlington Building Society or remortgaging to another lender.
Independent mortgage advisors are able to advise on all products available in the market and find the best option for you, which may not be staying with your current lender.
How quick should I expect a mortgage offer from Darlington Building Society?
The time it takes to get a mortgage offer from Darlington Building Society varies on a case-by-case basis.
Generally, the average time from mortgage application to offer can be four weeks. However, this time frame can be longer for more complex deals.
A mortgage broker experienced in Darlington Building Society’s process could get a mortgage offer quicker than going direct as they will know what information is required and can chase if the application has stalled.
What to do if Darlington Building Society have declined you a mortgage?
The first thing to do if you have been declined a mortgage from Darlington Building Society is to find out the reason for the decline.
Then you should speak to a mortgage advisor to discuss, as they could help you find another lender that may be willing to give you a mortgage.
Expert mortgage advisors get to know all lenders in the market and which lender is best suited for different situations, situations such as adverse credit, complex income, or any specific criteria about your situation or the property.
If the decline was due to bad credit or a low credit score, it may be a good idea to check your credit profile. To check your credit profile you can visit Experian, Equifax, Transunion or Check My File, which seems to be the most detail credit report and offers a free trial.
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Conclusion
Darlington Building Society is a building society in the UK that offers banking and financial services. They are based in Darlington and were established in 1856.
The building society offers a range of savings accounts and mortgages designed to help their members save for the future and buy a home. Darlington have a manual underwriting approach, assessing each individual case personally, rather than using an automated credit scoring system. This means they can have more flexibility to those that have a lower score due to minor adverse or low levels of credit.
Their mortgages are available in England and Wales and range from fixed and variable rates.
First time buyer mortgages, foreign income mortgages, ex-pat mortgages, joint borrower sole proprietor mortgages, later life mortgages, right to buy mortgages, complex income mortgages, interest only mortgages, self-employed mortgages, contractor mortgages, buy to let mortgages, and buy to let mortgages for portfolio landlords are all available from Darlington Building Society.
If you are an existing customer of Darlington Building Society and your initial rate is coming to an end, you may be eligible for a product switch. An independent mortgage advisor can help you with switching your rate with Darlington Building Society or remortgaging to another lender. The time it takes to get a mortgage offer from Darlington Building Society varies on a case-by-case basis.
Generally, the average time from mortgage application to offer can be four weeks. However, this time frame can be longer for more complex deals.
If you have been declined a mortgage from Darlington Building Society, the first thing you should do is to find out the reason for the decline. Then you should speak to a mortgage advisor to discuss, as they could help you find another lender that may be willing to give you a mortgage.
If you need mortgage advice, you can fill in the contact box below and I NEED ADVICE will match you with a mortgage advisor who can review the whole market and recommend the right mortgage for you.
They are experienced, which can boost your chances of being approved.
