Our team is your team

We want to lay the foundations to help your clients buy their new build home and support the market.

Clydesdale Bank understand the time sensitive nature of new build applications and our standalone case management team allows them to take priority.

Our expertise in the market can help ensure that your clients will meet the criteria before submission. What’s more, to provide an indication of affordability for your residential C&I cases, we have an Agreement in Principle calculator.

Definition

New Build LTVs

New Build Warranty

New Build Offers

New Build Incentives

• A property will be defined as new build if it satisfies any of the following criteria:

  • A property not previously occupied. For converted properties, it is where the property has not been occupied since the conversion was undertaken;
  • A property being sold or marketed by the builder or developer (regardless of whether it has been previously tenanted);
  • Built within the 2 years preceding the mortgage application;
  • Converted into a flat within the 2 years preceding the mortgage application as part of the conversion of a former mill, factory, school, church, council tower block (for example).

• 	Residential	Buy to Let
  House	90%	80%
  Flat	80%	70%

• A new build property must be covered by an NHBC Certificate or an equivalent form of guarantee cover. Acceptable policies for lending purposes can be viewed on here.

• Our offers are valid for 180 days. Once expired the offer cannot be extended and a new application with supporting documentation must be submitted. Offers may include a retention of funds depending on the condition of the property at valuation - please be sure to check the mortgage offer for details.

• Cash incentives

  • Are permitted up to 5% of the purchase price up to a maximum 90% LTV.
  • Cashback deals, Stamp Duty paid, payment of professional fees (solicitors, surveyors etc) and guaranteed rental payments for a specific period, are all considered to be cash incentives.

  Non-cash incentives

  • Non cash incentives are considered to be incentives which are fixed or fitted to the property or white goods, and are accepted without impacting the loan amount.