It has updated its policy to support foreign national clients who do not have indefinite leave to remain or settled/pre-settled status.
Clydesdale Bank will now lend up to 95% loan to value (LTV), with no minimum income requirement, for a joint application where one borrower has an indefinite leave to remain but the other does not.
Where no applicants have indefinite leave to remain, it will lend to 85% LTV with no minimum income requirement. This rises to 90% LTV if at least one applicant earns £75,000 or over.
Clydesdale Bank will now lend up to 80% LTV for buy-to-let (BTL) lending for foreign nationals. At least one applicant must be an owner-occupier. Where no applicants have indefinite leave to remain, one applicant must earn at least £75,000. If an applicant has indefinite leave to remain, there is no minimum income requirement.
Where the income of an applicant on a visa is being used, Clydesdale Bank will require them to have nine months remaining on their visa and for it to be on its approved list.
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Last week, the bank made enhancements to its self-employed policy relating to the loan-to-income (LTI) ratios and minimum income requirements, among other changes.
