It has made the decision, which will not impact shared ownership, due to the unprecedented high demand its intermediaries are currently experiencing for mortgages.

As of 5pm today (Friday, 18 September) all DIPs for out of area mortgages must meet the new minimum loan size requirement of £100,000.

Mortgage applications where a DIP was undertaken before 5pm on this date will continue to be accepted.

According to Darlington, ‘out of area’ is defined as where the mortgaged property is outside of the Society’s operating postcode areas, which are: DL, TS, DH, YO, SR & HG.

The standard minimum loan size (£25,000) will continue to apply to these postcode areas and all shared ownership products.

What’s more it will applu only to new mortgage applications and will not impact existing members seeking additional borrowing, product transfers or any other servicing based requests.