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Clydesdale raises LTV caps on large loan range

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  • 05/12/2016
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Clydesdale raises LTV caps on large loan range
Clydesdale Bank has improved its large mortgage range by raising its loan-to-value (LTV) limits on both capital and interest and interest-only deals.

For borrowers paying off the capital balance of the mortgage, for loan amounts between £750,000 and £1,500,000, the maximum loan-to-value has been increased to 80%.

Where any part of the loan is interest only, the property must be located in London and the south east to qualify for the overall loan-to-value of 80%, with no more than 75% being on an interest-only basis. Interest-only borrowers with properties falling outside these areas are restricted to 75% LTV overall.

For residential capital and interest loans up to £750,000 the Clydesdale’s maximum LTV remains at 90%.

Further product changes to hit the market come from Chelsea Building Society as it launches a market-leading four-year fixed rate mortgage.

A rate of 1.83% is available up to 65% loan-to-value for purchase and remortgage borrowers.

The mortgage has a £995 product fee and can be obtained online or over the telephone.

Chelsea is part of the Yorkshire Building Society Group and offers mortgages and savings direct to consumers. The four-year fix is not being made available through its broker brand, Accord Mortgages.

A spokesperson for the Yorkshire Building Society Group said: “We offer a range of competitive mortgages both directly to borrowers through Yorkshire, Chelsea and Norwich & Peterborough Building Societies, and through intermediaries via Accord Mortgages.

“We believe it is important to provide borrowers with a choice of mortgage options across all of our brands. We are dedicated to supporting brokers, and we regularly offer mortgages specifically for the intermediary market.”

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