In an update to brokers, Clydesdale Bank said that for loans over £500,000, brokers can call directly with any enquiries.
The firm said large loans can be “more complex” and acknowledged that brokers would like to speak to an underwriter prior to submitting a case to confirm it could assist them.
Clydesdale Bank also pointed to its improvement of the minimum large loan size from £750,000 to £500,000.
The lender noted that underwriters could help in cases where non-standard income is required, like investment income, as well as self-employed applicants with one-off extraordinary costs and when a higher-than-standard percentage of variable income is needed.
Earlier this month, the bank boosted buy-to-let (BTL) affordability.
Renters’ Rights Act: what landlords may be getting wrong
Sponsored by BM Solutions
West Brom BS lowers selected remo rates
West Brom Building Society will cut remortgage rates at 90% loan to value (LTV) by up to 0.18%.
Within its two-year fixed rate range, the rate on the £999 fee option has been lowered by 0.12% to 4.69%, with its fee-free option reduced by up to 0.18% to 4.99%.
On the five-year fixed rate side, the £999 fee and no-fee options have decreased by 0.15% to 4.94% and 5.06% respectively.
Aran Mann, product manager at West Brom Building Society, said: “We’re pleased to be reducing rates across our 90% LTV fixed remortgage range, supporting more recent homebuyers with a smaller level of equity in their homes, at a time when affordability remains a key concern. These changes underline our continued commitment to offering competitive products at higher LTVs.
“We also value feedback from our brokers who play a key part in helping us shape our products. We’ll continue to develop our offering to help give customers the best possible choice, whether that’s helping first-time buyers into homeownership, assisting those looking to move onto their next property or support to buy a new build.”
