The Darlington Building Society was launched in 1856 as the Darlington Working Men’s Equitable Permanent Building Society and was created for the welfare of the people of Darlington. It is a mutual Building Society which means it has no external shareholders to pay dividends to and any profits go towards supplying their customers with attractive interest rates. The society caters mainly for County Durham, North Yorkshire and the Tees Valley.

The Darlington Building Society has over 150 years experience in serving its local community and interests.

The Darlington Building Society have a variety of mortgages on offer from discount mortgages, standard variable rate mortgages, fixed rate mortgages, tracker mortgages, buy to let mortgages and first time buyer mortgages to suit your needs and situation. So if you are looking to buy your first home, remortgaging or purchasing a property to rent out then it’s worth checking out the Darlington Building Society.

We have picked out a few examples for your information.

Fixed Rate Mortgages– where the interest rate is fixed for a certain period of time and monthly payments do not alter even if interest rates increase or decrease. The Darlington Building Society have fixed rate mortgages with terms from 3 to 5 years. Below is an example of one of their fixed rate mortgages.

• Term 5 years
• The initial rate is 4.74% which is fixed until the 30^th April 2016 and thereafter changing to their standard variable rate which currently is 5.95% till the end of the term of the mortgage
• 75% loan to value
• The product fee is 1% of the initial mortgage loan with a £75 completion charge.
• There is free valuation for properties within County Durham, areas of North Yorkshire and the Tees Valley
• It is possible to make one lump payment of up to 10% during the fixed rate term
• There are early repayment charges of 3% of the outstanding balance if it is settled before 30^th April 2016
• The loan can be moved
• There are higher lending charges payable by an applicant where appropriate

Tracker Mortgages–these follow the Bank of England Base Rate which means that your monthly payments can increase or decrease. The Darlington Building Society have a tracker mortgage with a 3 year term.

• Term 3 years
• The initial rate is 2.99% (Bank of England Base Rate plus 2.49%) until the 30^th July 2014 and thereafter changing to their standard variable rate which currently is 5.95% till the end of the term of the mortgage
• 78% loan to value
• The product fee is £495
• There is a £75 completion charge
• There is free valuation for properties within County Durham, areas of North Yorkshire and the Tees Valley
• It is possible to make one lump payment of up to 10% during the initial tracker term
• There are early repayment charges of 3% of the outstanding balance if it is settled before 30^th July 2014

First time buyer mortgages – The Darlington Building Society have a 2 year discount mortgage for first time buyers.

• Term 2 years
• The initial rate is 4.79% until the 31^st October 2013 (this is a discount of 1.16% of their standard variable rate) and thereafter changing to their standard variable rate which currently is 5.95% till the end of the term of the mortgage
• 90% loan to value
• There is no product fee.
• There is a £75 completion charge
• There is a valuation fee and this is specified by the building society’s ratio
• Insurance for buildings and contents must be taken out with the Darlington Building Society
• The mortgage is available to first time buyers only
• It is possible to make one lump repayment of up to 10% during the discounted term
• There are early repayment charges of 3% of the outstanding balance if it is settled before 30^th April 2013
• The loan can be moved

When making an application for a mortgage from the Darlington Building Society they will require the following. It is always good to have these prepared in advance as it will speed up things with your application.

• Evidence of your name such as a full UK passport or driving license
• Evidence of your address such as a bank statement, utility bill or council tax
• Evidence of your earnings such as your pay slips for the last 3 months and give the address of the wage department of your employer
• Should you be self employed then you will have to give information regarding your accountant such as his name and address
• Details of any outstanding financial obligations
• History of rent or mortgage payments such as your rent book or last mortgage statement
• Evidence of your last three bank statements

The Darlington Building Society head office is at Sentinel House, Lingfield Way, Darlington, DL1 4PR