For loans up to 75% of property value
|Product name||Buy to let fixed rate - 3 years Interest Only|
|Initial rate expires on|
31st May 2021
|Rate thereafter||Offset variable Investment Housing Loan Rate, currently |
|Overall cost for comparison||5.0% APRC|
|Option to add arrangement fees to mortgage||Yes the arrangement fee can be added to the loan, provided the total borrowing does not exceed the maximum LTV for the product type|
|Legal and Valuation Fees||For more information visit Valuation Fees page|
|Eligibility||Available for purchase and remortgage, new applications and product transfer. Applicants must be aged 18 or over. All loans are subject to status. Security will be required|
|Maximum loan amount||Loans up to £750,000 - maximum LTV 75%|
Loans up to £1,000,000 - maximum LTV 70%
|Maximum loan to value||75%|
|Minimum loan amount||£80,000|
|Early repayment charge||5% in year one|
4% in year two
3% in year three
|Special offers||Remortgage: Legal fees and valuation paid for remortgages only #|
|Overpayment permitted||Yes, up to 10% of outstanding loan each year without penalty|
# The switching package is only available to applicants moving their mortgage from another lender. If the property is unencumbered, a free valuation is available. Free valuations are available on properties worth £2m, or less. Optima Legal Services will charge a funds transfer fee of £42 to applicants who use the switching package. When using products available for mortgages over £1m which benefit from the switching package incentive, the switching package is enhanced to allow one free valuation for properties worth £3m or less (standard free legals remain limited to properties worth £2m or less).
For all lending policy and new business enquiries:
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Clydesdale Bank PLC Registered in Scotland (Number SC001111). Registered Office: 30 St Vincent Place, Glasgow G1 2HL.