For loans up to 80% of property value
| Product name | Residential fixed rate - 5 years Capital and Interest - loans over £1m BO1398 |
| Initial rate | 4.71% |
| Initial rate expires on | 31st January 2030
|
| Rate thereafter | Standard Variable Rate, currently 8.24% |
| Overall cost for comparison | 6.90% APRC |
| Product fee | £1,999 |
| Option to add product fees to mortgage | The product fee can be added to the loan, unless it takes a residential loan over 95% LTV or a BTL loan over 80% LTV. |
| Legal and Valuation Fees | Purchases: No Incentives Re-mortgages: Free valuation and free legal fees (if using bank's own solicitors) |
| Eligibility | Where any part of the mortgage is Interest Only this product is to be used for both the Interest Only and Capital & Interest elements. Loan Amounts: The minimum loan size is £1,000,001. Maximum Loan Amounts are restricted by LTV criteria: Loans up to £2,500,000 - maximum LTV 80% (no more than 75% LTV to be Interest Only) Where any element of the loan is interest only, the following criteria applies: Maximum Term Capital and Interest: 40 years Maximum Term Interest Only or Part and Part: 35 years Minimum Property Value £400,000 Minimum Income: £75k sole or £100k joint Maximum age & retirement: If downsizing is used as a repayment strategy, the maximum age is 70 and lending in/into retirement is not allowed. Other Information Please note that income multiples are maximums and are given as a guide only - we will use our own affordability calculations, taking into account the applicants individual circumstances to arrive at the final lending decision. Remortgages Switching Package: Free standard legals (excluding any fee charged by our preferred legal provider for transferring funds to the previous lender) and one free valuation. Properties up to £3m – One free valuation. If the property to be mortgaged is currently unencumbered then a free valuation is available. Two months personal bank statements required where the mortgage is £1,000,000 or above. |
| Maximum loan amount | £2,500,000 If any part of the mortgage is Interest Only the maximum loan on this product is £750,000 (£1,000,000 in London & South East). |
| Maximum loan to value | 80% |
| Minimum loan amount | £1,000,001 |
| Early repayment charge | 5% in years one and two 4% in year three 3% in year four 2% in year five |
| Special offers | Purchase: None Remortgage: One free valuation for properties up to £3m. |
| Overpayment permitted | Yes, up to 10% of outstanding loan each year without penalty. After the fixed period you can make over payments without any restrictions. |
| Apply now |
Our online application makes it quick and easy to apply for your customer
Apply onlineTo discuss product and policy queries, or for advice on making an application, speak to your Clydesdale Bank and Virgin Money BDM.
Find your BDMsCan't find what you need on our product and lending criteria pages? Try live chat
To see how we manage your data, read our privacy notice
Chat nowTo discuss applications already submitted, please call 0800 917 8363.**Monday - Friday, 9.00am - 5.00pm, except Wednesdays, 9.30am - 5.00pm
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.
