Clydesdale enhances cash incentives and professional mortgage criteria
Clydesdale Bank has announced a series of changes to its mortgage lending policy.
The Bank will now accept cash incentives of as much as 5% of the purchase price up to 90% LTV. This includes cashback deals, stamp duty contributions and payment of professional fees. It will also accept non-cash incentives without impacting the loan amount.
Additionally, Clydesdale has reduced the minimum income required for newly qualified professionals from £40,000 to £30,000.
Eligible customers taking out a NQP product will also benefit from enhanced income multiples of up to 5.5x.
Last week, Clydesdale Bank announced a series of rate rises and a condensed two-year fixed rate mortgage range.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Santander
Santander launches 98% LTV ‘My First Mortgage’
First-time Buyer
Improved affordability sparks 20% rise in first-time buyers: NationwideÂ
Inflation
Further rate cuts dampened as inflation rebounds to 3.4%
Mortgage Rates
Two Big Six lenders increase mortgage rates as swaps rise
Bank Of England
Bank of England holds interest rates at 3.75% in narrow 5-4 vote
Interest Rates
Looser Fed policy stance could slow further rate cuts, policymakers warn