Clydesdale offers range of interest-only mortgages

Aaron Strutt Image
Clydesdale Bank has launched a range of interest-only mortgages and they are available to borrowers looking to raise between £100,000 and £1 million. The high-street lender offers two types of interest-only mortgages. Their new Low Start Mortgage gives borrowers a choice of three-year fixed rates that will automatically switch to full capital repayment after three years. The other interest-only mortgage deal is available to those wanting to borrow a minimum of £300,000. Clydesdale has changed their interest-only policy and all of these mortgages have to go through mortgage brokers. Aaron Strutt, a broker at Trinity Financial, says: “It is highly unusual for a high-street lender to do anything for interest-only borrowers at the moment and the rates are competitively priced.” Story updated from January 18, 2013
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