Clydesdale Bank said “as part of efforts to increase its lending” it plans to expand its range distributed through the broker market.
The new-build products are being launched in partnership with three major house-builders: Barratt, Persimmon and Taylor Wimpey and offered through selected members of their broker panels. The new ‘Professional First Time Buyer’ products will be offered across the full Clydesdale broker panel.
The deals are available to buyers who are fully qualified and employed in ‘professional’ occupations, including accountants, barristers, solicitors, doctors, dentists, vets, pharmacists, architects, pilots, optometrists, actuaries and chartered surveyors.
Rates for both new-build borrowers and professionals start at 5.49% for the 90% LTV two-year fixed rate, with a £999 fee and 4.49% for the two-year offset variable rate.
John Tooth, head of B2B mortgage distribution and strategy at Clydesdale Bank, said: “We have a clear commitment to increase our mortgage lending, a significant part of achieving that will come from a greater presence within the broker market. This announcement underlines that view.
“The need for higher LTV products in specific sectors of the market is something many commentators have identified. With these new products, we are taking a first step to help meet that need.”