Adapting to ever-changing landscapes
By Chris Blewitt of Darlington Intermediaries
One of the key strengths of Darlington Intermediaries is our passion for making complex cases simple. Whether that’s a complex property, complex applicant circumstances, or indeed complex external factors - as we have experienced in recent times.
Since 2020 the housing market, along with our lifestyles, have completely changed. Particularly pertinent to our sector is people’s disposition to spend their holidays closer to home. The rise of the staycation brought with it a marked increase in demand for holiday let and buy to let mortgages.
As we know, the ability to adapt is crucial for businesses. That’s why Darlington Intermediaries introduced its first Holiday Let mortgage in 2021. Just shy of its first birthday, the mortgage has been successful, and we’ve seen some wonderful stories of people adapting and their new holiday home businesses thriving both via traditional letting channels or utilising disruptors in the market such as Air BnB. It has also been great to see the owners themselves using the Holiday Homes as our holiday let mortgage allows borrowers personal use of the property for up to 90 days per year.
Buy to Let has also taken on a life of its own. The pandemic allowed people time to pause and reflect, reassessing their lifestyles. Some people decided to work from home more for a better work-life balance, others invested in property. A record number of 47,000 buy-to-let companies were set up in 2021 (Companies House), indicating that many opted to generate, or top up, their income through property.
As a business, investing in innovative mortgages, and being agile in the delivery and the service provided has put us in good stead as a resilient, trusted lender – and it has done so for the past 166 years.
We make complex cases simple so that more people can buy or build a home of their own, or realise their dream of running a property portfolio. Adapting to the changing market, to people’s wants and needs, has never been more important and we look forward to seeing who we can help next.
Darlington Intermediaries will shortly be launching a fixed rate Holiday Let mortgage, exclusive to L&G members. For more information please contact Intermediaries@Darlington.co.uk or visit www.Darlington.co.uk/Intermediaries
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