For loans up to 80% of property value
|Product name||Residential fixed rate - 5 years Capital and Interest - £500,000 and Over BO1393|
|Initial rate expires on|
31st January 2029
|Rate thereafter||Standard Variable Rate, currently |
|Overall cost for comparison||7.90% APRC|
|Option to add product fees to mortgage||The 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|
Re-mortgages: Free valuation and free legal fees (if using bank's own solicitors)
Applicants must be aged 18 or over. All loans are subject to status. Security will be required. This product is only available for remortgages
|Maximum loan amount|
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 £500,000.
The maximum loan size is £1,000,000
The max. LTV is 80% (No more than 75% may be on an Interest Only basis)
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.
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
|Maximum loan to value||80%|
|Minimum loan amount||£500,000|
|Early repayment charge||5% in years one and two|
4% in year three
3% in year four
2% in year five
Purchase or Unencumbered: None
Remortgage: One free valuation for properties up to £3m and includes a £500 cash back offer. At mortgage drawdown, the £500 will be credited to the account from which your mortgage payments will be taken.
|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.|
Our online application makes it quick and easy to apply for your customerApply online
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:
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: 177 Bothwell Street, Glasgow G2 7ER.