Clydesdale Bank has increased its maximum loan to value (LTV) for new-build residential homes to 90 per cent.
The maximum LTV was previously 85 per cent, and the change comes into force from today.
The lender’s maximum LTV for new-build residential flats is still 80 per cent LTV, while its maximum LTV for buy-to-let (BTL) houses is 80 per cent LTV for houses and 70 per cent LTV for flats.
Offers on new builds are valid for 180 days from the issue date, and builder incentives can be available on a case-by-case basis.
The lender defines a new build as a property that has not been previously occupied, a property sold by the builder or developer, a property built within two years of the mortgage application or converted into a flat within two years before the mortgage application.
