Darlington Building Society has teamed up with house builder Bussey & Armstrong to offer an exclusive mortgage deal.
Borrowers only need a 5 per cent deposit towards the purchase price and the initial interest rate of 3.49 per cent (variable) is a discount of 2.46 per cent from the society’s standard variable rate until 30 September 2015. After that the interest rate reverts to the society’s SVR, which is currently 5.95 per cent.
Pictured: Val Peacock of Darlington Building Society and Tracy Ridley of Bussey & Armstrong
The mortgage is available on Bussey & Armstrong new-builds at West Park for up to £200,000 with no product or completion fees to pay. In addition, on completion of the mortgage, all borrowers will receive a £500 voucher from Calvert’s Carpets.
Val Peacock, the society’s Darlington district manager, said: “Darlington Building Society is playing its part getting the local housing market moving again by making available a whole range of mortgage products requiring relatively small deposits at affordable rates of interest.”
She added: “We are very proud to be linking up with Bussey & Armstrong, a company that has a reputation for building quality homes within our heartland. The combination of a new home built to a high standard and accessible, reasonably priced finance should ensure that this partnership is hugely successful.”
Tony Cooper, director of Bussey & Armstrong, said: “Helping regenerate and breathe new life into brownfield sites and create new communities lies at the core of Bussey & Armstrong’s business.
“Teaming up with Darlington Building Society to offer this competitive mortgage deal will help turn home owning dreams into a reality for more people.”
