For loans up to 75% of property value
|Product name||Buy to let fixed rate - 5 years Interest Only|
|Initial rate expires on|
31st May 2024
|Rate thereafter||Offset variable Investment Housing Loan Rate, currently |
|Overall cost for comparison||4.8% APRC|
|Option to add product fees to mortgage||Yes the product fee can be added to the loan, provided the total borrowing does not exceed the maximum LTV for the product type|
|Legal and Valuation Fees||For more information visit Valuation Fees page|
|Eligibility||Available for purchase and remortgage, new applications and product transfer. Applicants must be aged 18 or over. All loans are subject to status. Security will be required|
|Maximum loan amount||£1,000,000|
|Maximum loan to value||75%|
|Minimum loan amount||£80,000|
|Early repayment charge||5% in years one and two|
4% in year three
3% in year four
2% in year five
|Special offers||Remortgage: Legal fees and valuation paid for remortgages only #|
|Overpayment permitted||Yes, up to 10% of outstanding loan each year without penalty|
# The switching package is only available to applicants moving their mortgage from another lender. If the property is unencumbered, a free valuation is available. Free valuations are available on properties worth £2m, or less. Optima Legal Services will charge a funds transfer fee of £42 to applicants who use the switching package. When using products available for mortgages over £1m which benefit from the switching package incentive, the switching package is enhanced to allow one free valuation for properties worth £3m or less (standard free legals remain limited to properties worth £2m or less).
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: 30 St Vincent Place, Glasgow G1 2HL.