Your guide to Darlington for intermediaries

Mortgage brokers, also known as intermediaries, have a major role in guiding clients at the very start of their homebuying journey. Acting as the bridge between future homeowners in the United Kingdom and various lenders, they help secure the best possible deals. To do this effectively, mortgage brokers need to work with home loan providers that offer dedicated support and flexible solutions. 

That’s where intermediary-focused mortgage lenders come in. One of them is Darlington Building Society, through its Darlington for intermediaries platform. This lending institution provides mortgage brokers with a reliable space to access tools, resources, and funding solutions designed to meet their clients’ needs. Want to know more about them? 

In this article, Mortgage Introducer takes a closer look at how Darlington for intermediaries can help mortgage brokers across the UK. We’ll explore their background, affordability calculator, and eligibility criteria. Curious if they’re the right partner for you? Keep reading to learn more. 

Background of Darlington Building Society 

Darlington for intermediaries is the intermediary-only platform of Darlington Building Society. It is a UK-based mutual organisation with its head office located in Darlington, County Durham. In 2022, they reported total assets of £833 million. 

Like most UK building societies, Darlington Building Society is a member of the Building Societies Association (BSA). It operates branches in: 

• Barnard Castle 
• Bishop Auckland 
• Darlington (High Row) 
• Guisborough 
• Middlesbrough 
• Northallerton 
• Redcar 
• Stockton 
• Yarm 

This building society offers a wide range of financial products. In 2021, Darlington Building Society was named Building Society of the Year after enhancing its digital banking services in partnership with UK-based tech provider ieDigital. 

Get to know Darlington for intermediaries 

Darlington for intermediaries is authorised by the Prudential Regulation Authority (PRA). They are also regulated by both the Financial Conduct Authority (FCA) and the PRA. Darlington provides mortgage brokers with access to a range of tools and information to make their clients’ mortgage application process efficient. 

In addition, Darlington for intermediaries offers a variety of mortgage products such as: 

• Standard Residential mortgage 
• Specialist Residential mortgage 
• Buy to Let mortgage 
• Shared Ownership mortgage 
• Existing Members / Product Transfer 
• Self Build 

Some of their features include an affordability calculator powered by Legal and General. They also have a comprehensive criteria search tool and a document library containing up-to-date forms and guidelines. 

Affordability calculator 

If you want to search for the right mortgage product for your clients, you can use Darlington for intermediaries’ affordability calculator. You can compare their mortgage solutions based on the following list of information about your clients: 

Property and loan criteria 

• property location  
• property type  
• new build (if yes or no) 
• property value  
• loan amount  
• LTV (loan to value) 
• mortgage type  
• method of repayment 
• mortgage term  
• initial product period 

Applicants’ criteria  

• number of applicants  
• any financial dependants (if any) 

Check out this video on how to work out your clients’ mortgage affordability: 

Darlington for intermediaries has various tools to assist mortgage brokers and their clients who want to apply for home loans. This is why most of the top mortgage intermediaries in the UK benefit from working with Darlington. 

Darlington for intermediaries’ eligibility criteria 

For Darlington’s eligibility criteria, we will provide you with a list of them: 

1. age limits 
2. first time buyers 
3. geographic area 
4. probationary period 
5. relative of a customer 
6. residency 
7. second residential 

Let’s briefly discuss each one: 

1. Age limits 

When applying for a mortgage through Darlington for intermediaries, age criteria can vary depending on the type of mortgage product. Here's a breakdown of the minimum and maximum age limits: 

Minimum age requirements 

• Residential mortgages: All applicants must be at least 18 years old at the time of application. 

• Buy to Let mortgages: The minimum age is 21 years old for all applicants. 

• Joint borrower sole proprietor: Supporting applicants must be at least 25 years old. 

• Expat (Residential and Buy to Let), Holiday Let, and Shared Ownership: Minimum age requirement is 21 years old for all applicants. 

Maximum age requirements 

• Repayment mortgages: There is no upper age limit for applicants, subject to Darlington's retirement policy. 
• Buy to Let mortgages: No maximum age applies even when the mortgage is on an Interest Only basis. 
• Interest Only mortgages: The maximum age for Interest Only mortgage applicants is 86 years old. 

2. First time buyers 

Darlington for intermediaries defines first time buyers as a person who has not previously owned a property. They can get the following: 

• up to 95% loan to share for Shared Ownership 
• up to 95% LTV is considered within Darlington’s operating area 
• 95% LTV is considered for outside Darlington’s operating area with the exclusion of London where maximum LTV is 80% (this is subject to product availability) 

Darlington will consider first time Buy to Let landlords but would be subject to their Buy to Let criteria. 

3. Geographic area 

Darlington Building Society currently offers mortgage lending across England, Wales, and mainland Scotland. Applications from the following places are also considered: 

• Scottish Islands: 

• Orkney 
• Shetland 
• Skye 

However, Darlington for intermediaries does not currently lend in other areas of the UK. For properties located in London, defined as any property within the M25 boundary, specific LTV restrictions apply. Residential house purchases and remortgages in London are capped at 80% LTV. 

The same 80% LTV limit applies to residential flats, although some exclusions can apply. These are outlined in Darlington’s flats criteria. For Buy to Let properties in London, the maximum LTV is 75%, and the loan amount must not exceed £500,000. Again, exclusions will apply in line with their flats policy. 

It’s important to note that Shared Ownership mortgages are not subject to these limits where there is no differentiation on LTV by geographic area. Applications that fall outside the standard lending areas or criteria should be referred directly to Darlington for intermediaries’ underwriting team for further review. 

Speaking of LTV, you can take a look at this video to understand what it is. Having knowledge of mortgage and financial terms is helpful if you want to become a successful mortgage broker or intermediary: 

Find out the latest figures from all the top mortgage lenders such as mortgage rates and their LTV percentages in our guide to current mortgage rates in the UK. You can also visit this weekly for new updates. 

4. Probationary period 

Darlington for intermediaries will consider mortgage applications from individuals who are currently employed within a probationary period, provided there is a proven track record in a similar role. 

If an applicant is new to their position and cannot demonstrate a suitable employment history, Darlington will require an employment reference to confirm that the role is permanent. 

If less than six months, the mortgage application will not proceed. But that is until a reference from the employer confirms that the probationary period has been successfully completed, and the position is permanent. 

5. Relative of a customer 

Darlington for intermediaries defines a “relative of the customer” as the following: 

• blood relative (rationale should detail who the blood relative is) 
• step-parent 
• child 
• spouse 
• guardian 
• partner 

6. Residency 

Darlington for intermediaries requires that all applicants provide proof of address covering at least the past three years. Applicants from outside the European Union must also provide evidence of their legal right to remain in the UK. A valid UK correspondence address is required for the application to proceed. 

Mortgage applications from individuals who are resident in the Netherlands or Italy will not be accepted. 

7. Second residential 

Darlington Building Society will accept applications for second residential properties and will be considered on the following criteria: 

• minimum income £25,000 
• application will be based on earned income and must cover full affordability for both households (including mortgage and expenditure) 
• maximum 70% LTV 
• property must not be let 
• available on repayment and interest only 

For other criteria and requirements, you can easily browse Darlington’s criteria finder. 

Why work with Darlington for intermediaries 

Working with Darlington for intermediaries is a great move not just for your career as a mortgage professional, but also for your clients. They boast a wide range of competitive mortgage products along with helpful tools that can make the mortgage process more efficient and straightforward. 

Overall, if you're looking for a reliable mortgage lender to help your clients find the right solution, it's worth exploring what Darlington for intermediaries has to offer. Their broker-focused service and support can make a real difference. 

That said, it’s still a good idea to check other intermediary-only platforms available in the market, so you can find the mortgage partner that best matches your clients’ needs: 

• NatWest for intermediaries 
• Barclays for intermediaries 
• HSBC for intermediaries 
• Nationwide for intermediaries 
• Accord for intermediaries 
• Coventry for intermediaries 
• Leeds for intermediaries 
• Skipton for intermediaries 
• Aldermore for intermediaries 
• Precise for intermediaries 

What do you think about this guide to Darlington for intermediaries? Feel free to share your insights in the comments section below.