Clydesdale unveils clutch of London and South East deals

Capital
Clydesdale Bank Intermediaries is today raising its maximum buy-to-let LTV to 75 per cent on loans of up to £1.5m in London and the South East.

The previous cap was 60 per cent for buy-to-let loans of more than £1m.

The lender has also raised its maximum LTV on buy-to-let mortgages between £750,001 to £1m from 70 to 75 per cent.

Clydesdale has today also launched three new residential mortgages in the region.

The firm has launched a two-, three- and five-year fixed rate loan, each with an LTV of 75 per cent for mortgages of £1m to £1.5m.

The two-year option has a 2.69 per cent rate, the three-year a 2.99 per cent rate and the five-year a price of 3.09 per cent.

The products have a £2,999 arrangement fee and are available for purchase and remortgage.

Clydesdale Bank Intermediaries head of mortgage distribution Fred Sharp says: “The LTV changes are a direct result of feedback received from our brokers. We’ve really focussed on improving both our large loan and BTL propositions this year.

“We’re confident the changes will deliver our customers real value.”

More news and analysis on London house price news. 

Recommended

Sainsburys-Building-2013-700x450.jpg

Sainsbury’s adds Intrinsic to its broker panel

Sainsbury’s Bank has added Intrinsic to its broker panel as it aims for further UK growth. The network joins existing panel members, Openwork, L&G partners, L&C Mortgages, Mortgage Advice Bureau, Stonebridge Group, Alexander Hall, Springtide, First Mortgage Direct and SPF. The lender is hoping that by expanding its range of broker partnerships it will extend […]

Paper-People-Cardboard-Cutout-700.jpg

FCA fleshes out broker comparison tool plans

The Financial Conduct Authority has given more details of its plans to set up a service that lets consumers compare mortgage brokers. The plans were unveiled this morning in the regulator’s interim mortgage competition report. Speaking to Mortgage Strategy, FCA director of competition and economics Deb Jones says the watchdog’s research has shown that the broker […]

judge-gavel-law-justice-fine-ban-500x320.jpg

Advertising authority bans ‘misleading’ Age Partnership TV ad

The Advertising Standards Authority has banned a TV ad from retirement specialists Age Partnership for being ‘misleading’. The ad in question is for an equity release scheme and features an older couple who state that they are worried about their finances and had “thought about releasing money from our home”. The featured couple says: “We […]

Financing properties owned in trusts

Part of a series looking at various niche markets within the buy-to-let sector where choice of lender is more restricted than for normal borrowers. One such area involves loans secured on residential properties owned through trusts. Properties can be held in trust for many reasons. For example, if a property is left to minors in […]

Newsletter

News and expert analysis straight to your inbox

Sign up