At Clydesdale Bank we can now accept non-standard income in some cases. We can look at income from investments and trusts, even when it’s not currently being drawn.
Just another great way we’re helping customers get the loan amount they need.
A real-life example
Here’s how we recently said yes to a customer, using their non-standard income:
Loan requested: £450,000 (38% LTV)
Background: This was a like-for-like residential remortgage. The customer had no traditional earned or self-employed income. What they did have was a big pension pot which they weren’t drawing from, plus a managed investment portfolio.
Their pension pot was £1.5 million, and as the customer was over 55, they were able to access the funds. In addition, they had a UK-based sterling managed investment portfolio worth £2.7 million.
The outcome: All things considered – LTV, like-for-like re-mortgage, strong asset and affordability position – we agreed to use this income in our affordability assessment and were able to provide an agreement in principle.
You can find our current rates here.
If you’ve got any questions, you can get in touch with your Business Development Manager.
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.
