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Residential fixed rate - 2 years Capital and Interest BO1601

For loans up to 65% of property value

Product nameResidential fixed rate - 2 years Capital and Interest BO1601
Initial rate1.79%
Initial rate expires on
30th November 2023
Rate thereafterStandard Variable Rate, currently
4.55%
Overall cost for comparison4.1% APRC
Product fee
£1999
Option to add product fees to mortgageThe product fee can be added to the loan, unless it takes a residential loan over 95% LTV or a BTL loan over 80% LTV.
Legal and Valuation Fees

Remortgage: One free valuation for properties up to £3m Free standard legals (excluding any fee charged by our preferred legal provider for transferring funds to the previous lender) for properties up to £2m
Properties over £3m – No incentives
All incentives are subject to qualifying criteria being met

Two months personal bank statements required where the mortgage is £1,000,000 or above.
The product fee for existing customers completing a product transfer is £999

Eligibility

Applicants must be aged 18 or over. All loans are subject to status. Security will be required

Maximum loan amount

The minimum loan size is £1,000,001.
Maximum Loan Amounts are restricted by LTV criteria:
Loans up to
£3,000,000 - maximum LTV 65%
Loans Over £3,000,000 - maximum LTV 60% (no more than 55% LTV to be Interest Only)

Where any element of the loan is interest only, the following criteria applies:
Maximum Term: 25 years
Minimum Income: £75k sole or £100k joint
Maximum age & retirement: If downsizing is used as a repayment strategy, the maximum age is 70 and lending in/into retirement is not allowed.

Maximum loan to value65%
Minimum loan amount£1,000,001
Early repayment charge3% in year one
2% in year two
Overpayment permittedYes, up to 10% of outstanding loan each year without penalty. After the fixed period you can make over payments without any restrictions.
Apply now

 

# New customers: Free standard legals (excluding any fee charged by our preferred legal provider for transferring funds to the previous lender) and one free valuation on properties worth £3m, or less. If the property to be mortgaged is currently unencumbered then a free valuation is available.

Quick links

Our online application makes it quick and easy to apply for your customer

Apply online

To discuss product and policy queries, or for advice on making an application, speak to your Clydesdale Bank and Virgin Money BDM.

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For quick info on our products or lending policy, visit our product and lending criteria pages or use our live chat.

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To discuss applications already submitted, please call 0800 917 8363.*

*Monday - Friday, 9.00am - 5.30pm, except Wednesdays, 9.30am - 5.30pm

Procuration fee enquiries

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