Clydesdale launches into 80% LTV B2L lending
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Clydesdale Bank has become the latest lender to launch into 80% LTV buy-to-let lending.
The bank is launching a two-year fix at 4.49% and a five-year fix at 5.39% tomorrow.
Both products come with a £1,999 arrangement fee and are available for loans up to £500,000.
Clydesdale previously lent up to a maximum LTV of 75% on buy-to-let.
A spokesman for the lender says the rates are among the most attractive being offered in this segment of the buy-to-let market.
He says: “We have been growing the amount of business we do via brokers over the past year and this is an extension of that.
“There is clearly a lot of demand out there from brokers, particularly for higher LTV buy-to-let products, so we are responding to that demand.”
Leeds Building Society and Aldermore increased their maximum LTV on buy-to-let to 80% earlier this month.
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Readers' comments (6)
Graham Kennedy | 26 Jan 2012 1:12 pm
Although improvements such as this are always welcome why is there no comment here about these products only being available on a capital & interest basis?
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max | 26 Jan 2012 2:22 pm
great, now try and get on their panel for new business. thsi is like saying we have 90% btl at 2% for life, but you can only get it if we like you. mortgage strategy shoudl be asking CBank why they operate a closed shop, particularily for DA brokers.
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Jason Hegarty | 26 Jan 2012 2:43 pm
@Graham
From their website.
Repayment method
Repayment, interest only, or a combination of both.
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a kharkowa | 27 Jan 2012 9:07 am
Is teh purpose of CB s 80% offering for B2L just a trick to get top of sourcing results?
With restrictions in distribution and only offering capital and interest- Forget It!
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Kevin Vella | 27 Jan 2012 9:26 am
@ max
Agreed, why the cloak and dagger to get on their panel to submit business ?
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Ketan Yadav - Avenue & Co Private Finance | 27 Jan 2012 12:08 pm
Criteria - REPAYMENT ONLY for BTL with rental income of 125% at pay rate.
(confirmed by my BDM Max Myring just now)
...pretty tough criteria if you ask me.
Nat West Intermediaris will offer 4.39% Fixed 2 yrs to 75% LTV - Interest Inly with £1999 fee - that will fit more cases.
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