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.

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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, reasonablypriced finance should ensure 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, including 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, bussey armstrong.co.uk.