For loans up to 65% of property value
| Product name | Residential fixed rate - 2 years Interest Only - Loans over £1m BO1601 |
| Initial rate | 4.75% |
| Initial rate expires on | 31st January 2027 |
| Rate thereafter | Standard Variable Rate, currently 8.24% |
| Overall cost for comparison | 7.90% 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 | Applicants must be aged 18 or over. All loans are subject to status. Security will be required. This product is only available for remortgages |
| Maximum loan amount | The minimum loan size is £1,000,001. Maximum Loan Amounts are restricted by LTV criteria: Loans up to £10,000,000 - maximum LTV 65% Loans Over £10,000,000 - maximum LTV 60% (no more than 55% LTV to be Interest Only) Where any element of the loan is interest only, the following criteria applies: Maximum Term: 25 years 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. |
| Maximum loan to value | 65% |
| Minimum loan amount | £1,000,001 |
| Early repayment charge | 3% in year one 2% in year two |
| 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 |
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Clydesdale Bank PLC Registered in Scotland (Number SC001111). Registered Office: 177 Bothwell Street, Glasgow G2 7ER.
