Darlington BS and Own New Introduce 95% Loan-to-Value Mortgage

Darlington BS and Own New Introduce 95% Loan-to-Value Mortgage

In today’s competitive housing market, it can be difficult to find a mortgage that fits your needs. Fortunately, Darlington Building Society and Own New have teamed up to offer a 95% loan-to-value mortgage, making it easier for first-time buyers to get on the property ladder.

A loan-to-value (LTV) mortgage is a type of loan where the amount you borrow is based on the value of the property you are buying. The LTV ratio is calculated by dividing the amount of the loan by the value of the property. For example, if you are buying a property worth £100,000 and you take out a loan for £95,000, then your LTV ratio would be 95%.

The Darlington Building Society and Own New 95% LTV mortgage is designed to help first-time buyers who may not have enough savings to cover the full cost of the property. With this mortgage, you can borrow up to 95% of the value of the property, meaning you only need to provide a 5% deposit. This makes it much easier for first-time buyers to get on the property ladder.

The mortgage also comes with a range of other benefits. For example, it offers competitive interest rates and flexible repayment options. It also has no early repayment charges, meaning you can pay off your mortgage early without incurring any additional fees.

Overall, the Darlington Building Society and Own New 95% LTV mortgage is an excellent option for first-time buyers who may not have enough savings to cover the full cost of the property. It offers competitive interest rates, flexible repayment options, and no early repayment charges, making it an attractive option for those looking to get on the property ladder.