Skip to content

We use cookies to keep our websites easy to use and relevant to our users’ requirements and to enable us to learn which advertisements bring users to our website. Select Accept below if you wish to proceed or How to change your cookies for instructions on how to manage your cookie settings. Find out more about our Cookie Policy.

Changes to product offering and policy requirements

10th September 2020

We have restarted physical valuations and reinstated our product range up to 85% LTV. Some changes to policy requirements remain in place.

What does this mean for your clients?

We have residential products available to 85% LTV and BTL to 80%.

Following the easing of restrictions, surveyors are able to carry out physical inspections across the UK.

Some changes to policy requirements remain in place.

Affordability Policy

We’ve also had to make some temporary changes to our current lending policy which means unfortunately we are currently unable to accept the following:

- Any form of variable income (overtime, commission, bonus). Affordability will be assessed on basic salary only.

- Where an employed customer is designated as furloughed, their income will not be used in the affordability assessment.

All self-employed customers (sole traders, partnerships, LLP’s and limited companies) will need to provide their last 3 months’ business bank statements to evidence continued turnover and a completed Self-Employed Supplementary Form. This must be submitted with the application to help us understand what impact COVID-19 restrictions have had on the customer’s business.

The changes to our affordability policy do not impact applications received before Friday 17th April 2020, which will continue to be assessed on a case by case basis.

Existing Applications

Surveyors are now able to carry out physical inspections across the UK. Valuations will follow government guidelines, and will only take place if the occupier consents to allow access to the property.

We understand that many peoples’ lives have changed in recent months. As we continue to assess mortgage applications, it’s important that we take into account your customers’ current circumstances. This is part of our commitment to responsible lending.

You must let us know if there have been any changes to a customer’s circumstances since you submitted an application to us. Examples of changes could include unemployment, furlough, loss of overtime or commission.

If things have changed after you have submitted an application, please tell us and we will assess your customer’s current circumstances against our policy at the time of the original application.

Service Update

Due to exceptionally busy times for the market, we have paused our 10-day Application to Offer Service Commitment and are working hard to process applications as fast as possible.

Contacting your BDM

Your telephone Business Development Manager is currently out of the office, so for help and support with any applications, please contact your dedicated field Business Development Manager, you can find their contact details on our BDM Finder.

Don’t forget that you can find the latest status of an application in our case tracking updates. If you do need to call us, you can find our contact details on our website.

Yours sincerely

The Clydesdale Bank Intermediary Team

Get in touch

Get in touch

For all lending policy and new business enquiries:

Contact us

You are here:  News  >  Articles