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

MorganAsh launches calculator to help firms estimate scale of customer vulnerability

MorganAsh has launched a calculator designed to help financial services firms gauge how many...

Average mortgage rate reaches 5.50% as market reprices

The average mortgage rate tracked by Moneyfacts has climbed to 5.50% for the first...

RSM UK urges action as house price growth stalls and transactions fall

RSM UK is calling for stamp duty reform and more support for first-time buyers...

Clydesdale Bank raises selected residential and buy-to-let rates

Clydesdale Bank is increasing a number of residential and buy-to-let product transfer rates from...

24-hour secured loan case underlines growing use of specialist finance

A secured loan completed within 24 hours is being cited as a sign of...

Latest publication

Other news

MorganAsh launches calculator to help firms estimate scale of customer vulnerability

MorganAsh has launched a calculator designed to help financial services firms gauge how many...

Average mortgage rate reaches 5.50% as market reprices

The average mortgage rate tracked by Moneyfacts has climbed to 5.50% for the first...

RSM UK urges action as house price growth stalls and transactions fall

RSM UK is calling for stamp duty reform and more support for first-time buyers...