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Clydesdale Bank & Portfolio Landlords

15th September 2017

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:

Can you have a BTL (re)mortgage with Clydesdale Bank?

What do you want to do?

How many mortgages BTLs* do you already have?
Buy a new BTL
Remortgage with extra borrowing
Remortgage with no extra borrowing
* Should include all mortgages with any lender and not just Clydesdale Bank

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.

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