Mortgage News
Clydesdale Bank revises criteria and releases 90 per cent LTVs
Clydesdale Bank has updated criteria for its 90 per cent loan to value (LTV) products to amend the eligible property types and increase maximum terms.
The maximum mortgage term has risen to 35 years from 30, and the bank will now accept flats and maisonettes shorter than four storeys.
Properties must not be ex-local authority or ex-Ministry of Defence.
Across its 80 per cent LTVs, the bank has upped the maximum loan size from £750,000 to £1m.
Clydesdale Bank has also added a pair of 90 per cent LTVs to its range. The two-year fixed has a rate of 3.42 per cent and the five-year fix is set to 3.66 per cent. These products have fees of £999.
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For these products, loan sizes vary between £540,000 and £750,000.
The bank has reduced rates on two and five-year fixes with a £999 fee at 75 per cent LTV with pricing starting from 1.32 per cent.
The five-year fixed fee-free alternative has been cut to 1.72 per cent.
Meanwhile, it has simplified the fee structure on all its capital and interest repayment mortgages for loan sizes up to £1m. All fee-paying options now have a standard fee of £999.
These changes are effective from today.