New buy-to-let deals from the Darlington

Darlington Building Society has launched two new buy-to-let mortgage products.

The two new products are priced at 3.99% with product fees of £774.

The rates are discounted from the Society’s standard variable mortgage rate until 31 May 2015.

Borrowers looking to borrow on an interest-only basis are restricted to a maximum loan to value of 60% whereas if the capital and interest method of repayment is chosen, the maximum loan to value is increased to 70%.

The Society will only consider applicants for its buy-to-let product range if the landlord has no more than three buy-to-let properties in total.

Val Peacock, Darlington’s district manager, said: “We only launched these new products a few days ago and we have been pleasantly surprised by the initial interest and demand.