Deal to boost mortgage market
12:14pm Monday 25th February 2013
DARLINGTON Building Society and house builder Bussey & Armstrong – local businesses synonymous with Darlington for more than a century – have joined forces to boost the local housing market with an exclusive mortgage deal.
The offer requires only a five per cent deposit towards the purchase price of a property and has an initial interest rate of 3.49 per cent (variable), a discount of 2.46 per cent from the society’s standard variable rate, until September 30, 2015.
The exclusive mortgage is available on Bussey & Armstrong new homes at West Park for up to £200,000, with no product or completion fees to pay.
In addition, all borrowers will receive a£500 voucher from Calvert’s Carpets on completion of the mortgage to help them furnish their new home.
Val Peacock, the society’s Darlington district manager, said: “Darlington Building Society is playing its part in 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.
“We are 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.”
“Helping to regenerate and breathe new life into brownfield sites and create new communities lies at the core of Bussey & Armstrong’s business,” said Tracy Ridley, the company’s business manager.
“Teaming up with Darlington Building Society to offer this competitive mortgage deal will help to turn home-owning dreams into a reality for more people.”
Bussey & Armstrong is building new homes at West Park, Darlington, where its range of houses includes two, three and four-bedroom properties.
Full details of the new mortgage product are available from Darlington Building Society’s branches in Tubwell Row and Cockerton, its website – darlington.co.uk – or Bussey & Armstrong’s website, which can be found at busseyarmstrong.co.uk.