Darlington BS launches 95% LTV Rate Reducer products from 4.19%

Darlington Building Society has launched a new suite of five-year fixed rate products under the Own New Rate Reducer scheme, offering up to 95% LTV for new build purchases. 

The products are available to a wide range of borrowers, including first-time buyers, skilled workers and those on visas.

Delivered in partnership with Own New, a home ownership platform supporting access to new build properties, the products are designed to support buyers purchasing new build homes across the country (excluding London), with the benefit of lower monthly repayments. 

Rates start from 4.19% and are aligned with developer incentive schemes offering either a 3% or 5% contribution.

Five-year fixed rates are available from 4.19% with a 5% housebuilder incentive and 4.49% with a 3% incentive. 

Darlington has also introduced two Rate Reducer products specifically for applicants on skilled worker or spousal visas, starting from 4.69% with a 5% incentive and 4.99% with a 3% incentive.

These products sit alongside Darlington’s flexible visa criteria, which are designed to remove common barriers for borrowers on skilled worker and spousal visas.

The Society does not apply a minimum income threshold for 95% LTV applications and places no requirement for a minimum period of UK residency. Instead of relying on a traditional credit score, eligibility is assessed through a credit search. 

Skilled worker visa holders are considered with at least two years remaining on their visa, and spousal visa income is accepted where the joint applicant is a British National or has indefinite leave to remain.

The Own New Rate Reducer scheme is currently supported by over 150 developers across the UK.

Chris Blewitt (pictured), head of intermediary distribution at Darlington Building Society, said: “Demand for new build homes remains strong, particularly among buyers facing barriers with mainstream lenders, and visa status is one of the most common reasons clients fall outside standard criteria. Brokers are telling us they’re seeing a real rise in enquiries from skilled workers and foreign nationals, many of whom are keen to get on the ladder but need greater flexibility in how affordability is assessed.

“By partnering with Own New, we’re giving brokers a practical option to support these buyers with competitive rates and lower monthly payments. It builds on the Society’s wider strategy to support underserved borrower groups and respond directly to what intermediaries are seeing on the ground.”

Eliot Darcy, founder of Own New, added: “Affordability remains one of the biggest barriers for buyers, especially as monthly costs stay high and interest rates remain well above historic norms. People aren’t just looking for a mortgage; they’re looking for something manageable, and that’s exactly what Rate Reducer is designed to do.

“Channelling housebuilder incentives into the mortgage itself, rather than upfront costs, means buyers can access lower monthly repayments from day one. Our collaboration with lenders like Darlington Building Society means we can extend this benefit to more people, particularly those who may be underserved by mainstream options.”