As part of its efforts to grow its mortgage lending, Clydesdale Bank is increasing the range of products it offers through the broker market. These new products will provide deals at up to 90% LTV for new-build and professional first time buyers.
The New-Build products are being launched in partnership with three major house-builders: Barratt, Persimmon and Taylor Wimpey. The new deals add to the Bank's existing range of products and will be offered exclusively by the three builders' through selected members of their broker panels.
The deals are also free of any Additional Mortgage Security fees.
The new ‘Professional First Time Buyer' products will be offered across the full Clydesdale broker panel.
The deals, which offer up to 90% lending, are available to buyers who are in fully qualified and employed in ‘professional' occupations: accountants, barristers, solicitors, doctors, dentists, vets, pharmacists, architects, pilots, optometrists, actuaries and chartered surveyors.
Product Details:
New-Build
Product: 2 Year Fixed Rate
- LTV: <=90 %
- Rate: 5.49%
- Fee: £999
- Reverts to: SVR
Product: 2 Year Offset Variable Rate
- LTV: <=90%
- Rate: 4.49%
- Fee: £999
- Reverts to: Offset Variable Rate
*up to £500k loan value
Professional FTB
Product: 2 Year Fixed Rate
- LTV: <=90%
- Rate: 5.49%
- Fee: £999
- Reverts to: SVR
Product: 2 Year Offset Variable Rate
- LTV: <=90%
- Rate: 4.49%
- Fee: £999
- Reverts to: Offset Variable Rate
*up to £500k loan value
John Tooth, Head of B2B Mortgage Distribution and Strategy at Clydesdale Bank, said:
"We have a clear commitment to increase our mortgage lending, a significant part of achieving that will come from a greater presence within the broker market. This announcement underlines that view.
"The need for higher LTV products in specific sectors of the market is something many commentators have identified. With these new products, we are taking a first step to help meet that need."
