Clydesdale Bank improves new build criteria

Published on

Clydesdale Bank has made changes to its mortgage lending policy.

The bank will now accept cash incentives of up to 5% of the purchase price up to 90% LTV. This includes cashback deals, stamp duty contributions and payment of professional fees.

It will also accept non-cash incentives without impacting the loan amount.

Meanwhile, Clydesdale Bank has reduced the minimum income required for Newly Qualified Professionals from £40k to £30k.

Eligible customers taking one of the bank’s NQP products benefit from enhanced income multiples of up to 5.5x.

Its new lending criteria is now live and the affordability calculator and AIP are in the process of being updated.

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

MPs launch inquiry into OBR’s first 15 years

The Treasury Committee has launched an inquiry to reflect on the Office for Budget...

Atom backs investor’s move into commercial property with £3m warehouse loan

Atom bank has completed a £3 million commercial mortgage to support an established residential...

CHL Mortgages widens upper LTV range with new fixed-rate options

CHL Mortgages for Intermediaries has expanded its upper loan-to-value range with a series of...

Swansea Building Society expands West Wales leadership remit

Swansea Building Society has promoted Sioned Jones to area manager, West Wales, with effect...

Nationwide slapped with £44m fine over prolonged financial crime control failures

The Financial Conduct Authority (FCA) has fined Nationwide Building Society £44m after finding widespread...

Latest publication

Other news

MPs launch inquiry into OBR’s first 15 years

The Treasury Committee has launched an inquiry to reflect on the Office for Budget...

Atom backs investor’s move into commercial property with £3m warehouse loan

Atom bank has completed a £3 million commercial mortgage to support an established residential...

CHL Mortgages widens upper LTV range with new fixed-rate options

CHL Mortgages for Intermediaries has expanded its upper loan-to-value range with a series of...