For loans up to 80% of property value
|Product name||Residential fixed rate - 2 years Capital and Interest - loans over £1m BO1381|
|Initial rate expires on|
31st January 2026
|Rate thereafter||Standard Variable Rate, currently |
|Overall cost for comparison||9.10% APRC|
|Legal and Valuation Fees|
Re-mortgages: Free valuation and free legal fees (if using bank's own solicitors)
Where any part of the mortgage is Interest Only this product is to be used for both the Interest Only and Capital & Interest elements.
The minimum loan size is £1,000,001.
Maximum Loan Amounts are restricted by LTV criteria:
Loans up to £2,500,000 - maximum LTV 80% (no more than 75% LTV to be Interest Only)
Where any element of the loan is interest only, the following criteria applies:
Maximum Term Capital and Interest: 40 years
Maximum Term Interest Only or Part and Part: 35 years
Minimum Property Value £400,000
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.
Please note that income multiples are maximums and are given as a guide only - we will use our own affordability calculations, taking into account the applicants individual circumstances to arrive at the final lending decision.
Remortgages Switching Package:
Free standard legals (excluding any fee charged by our preferred legal provider for transferring funds to the previous lender) and one free valuation.
Properties up to £3m – One free valuation. If the property to be mortgaged is currently unencumbered then a free valuation is available.
Two months personal bank statements required where the mortgage is £1,000,000 or above.
|Maximum loan amount||£2,500,000 If any part of the mortgage is Interest Only the maximum loan on this product is £750,000 (£1,000,000 in London & South East).|
|Maximum loan to value||80%|
|Minimum loan amount||£1,000,001|
|Early repayment charge||3% in year one|
2% in year two
Purchase or Unencumbered: None
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
|Overpayment permitted||Yes, up to 10% of outstanding loan each year without penalty. After the fixed period you can make over payments without any restrictions.|
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To discuss product and policy queries, or for advice on making an application, speak to your Clydesdale Bank and Virgin Money BDM.Find your BDMs Chat now
To discuss applications already submitted, please call 0800 917 8363.**Monday - Friday, 9.00am - 5.30pm, except Wednesdays, 9.30am - 5.30pm
For all lending policy and new business enquiries:
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Clydesdale Bank PLC Registered in Scotland (Number SC001111). Registered Office: 177 Bothwell Street, Glasgow G2 7ER.