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

Abandoned mortgage value jumps to £32.4bn

Home buyers walked away from more than £32 billion of agreed mortgage lending last...

More2life pilots interest reward feature within Omni range

Later life lender more2life has launched a pilot of a new lifetime mortgage feature...

Glenhawk appoints origination director for structured real estate

Short-term lender Glenhawk has strengthened its structured real estate team with a senior origination...

Dudley cuts rates across core and specialist ranges

Dudley Building Society has cut mortgage rates by as much as 1.30% across its...

Law firm’s shock closure leaves conveyancing clients in the dark

Hundreds and maybe thousands of borrowers have been left high and dry after a...

Latest publication

Other news

Abandoned mortgage value jumps to £32.4bn

Home buyers walked away from more than £32 billion of agreed mortgage lending last...

More2life pilots interest reward feature within Omni range

Later life lender more2life has launched a pilot of a new lifetime mortgage feature...

Glenhawk appoints origination director for structured real estate

Short-term lender Glenhawk has strengthened its structured real estate team with a senior origination...