Clydesdale offering larger mortgage loans
Clydesdale Bank has increased its maximum loan size from £2 million to £3 million and lowered its deposit requirements for clients looking for larger mortgages.
Clydesdale’s lowest two-year fixed rate is 2.19% and it is available for mortgages between £1 million and £3 million.
It has a £1,999 arrangement fee and borrowers will require a 40% deposit to qualify. The APR is 4.5%.
Aaron Strutt, product manager at Trinity Financial, says: “Clydesdale is offering £1 million plus mortgages providing borrowers have a 25% deposit.
“The bank tends to be popular with city professionals because they have some niche lending criteria and they still offer interest-only mortgages. They typically lend around four times salary and can take bonus income into consideration.”
If you would like to borrow £2 million and lock into Clydesdale’s two-year fixed rate, the monthly repayments would be £8,663 on full capital repayment and £3,650 on interest-only.
After the fixed rate period, Clydesdale’s mortgages revert to their standard variable rate, currently 4.95%.
If you would like help to secure a large mortgage loan, call Trinity on 020 7016 0790.
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