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.
