In advance of new BTL underwriting standards established by the PRA, we are able to share with you our new approach to portfolio landlords.
Clydesdale Bank will continue to support portfolio landlords who wish to remortgage to us with no additional borrowing and you won’t need to send us any additional documents or information compared to normal.
For customers looking to borrow additional money or buy a new BTL we will only be able to assist if the customer does not meet the definition of a portfolio landlord – borrowers with four or more mortgaged BTL properties. This count includes all mortgaged BTLs owned by all borrowers.
We have produced the following table for you to quickly and easily identify if we can help your customers:
There are no changes to our policies for the maximum number of BTLs a customer can hold with us or how many BTLs a customer can hold in their total portfolio. The maximum number of BTLs with Clydesdale Bank is 3 with a maximum total borrowing of £1m (£1.5m if £500k or more of the mortgages are on properties in the Greater London area), and we cannot lend to anyone who has more than 8 BTLs in their portfolio, whether or not they are mortgaged.
We will accept applications on the old rules up to 5pm on Wednesday 27th September 2017.
For more information on our products or how we may be able to assist your clients, please contact your Relationship Manager.
If you are not an intermediary of the Bank, you should not refer to the information contained in this website. If you are a professional and you reproduce any part of the information contained in this communication, to be used with or to advise retail clients, you must ensure it conforms to the Financial Conduct Authority's mortgage conduct of business rules. This site is intended for UK residents (who are intermediaries of the Bank) unless otherwise stated.
Clydesdale Bank PLC Registered in Scotland (Number SC001111). Registered Office: 30 St Vincent Place, Glasgow G1 2HL.