Clydesdale Bank increases their maximum interest-only mortgage to £1.5 million
Clydesdale Bank has increased their interest-only mortgage maximum loan size from £1 million to £1.5 million.
For mortgages over £1 million, Clydesdale Bank has a two-year fixed rate at 2.39% at 60% loan-to-value. This mortgage has a £1,999 arrangement fee. The APR is 4.6% and the reversion rate is currently 4.95%.
Clydesdale is keen to provide more mortgages this year and they are happy to offer a range of interest-only mortgages. However, in order to qualify for these mortgages, borrowers will need to have a 50% deposit. A combination of equity in another property or FTSE 100 investments can also be used, although not as the main repayment vehicle.
If you would like help to secure an interest-only mortgage, call us on 020 7016 0790.
February 14, 2014
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