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.
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