Clydesdale launches range of interest-only mortgages

Aaron Strutt Image
Clydesdale Bank is launching a range of interest-only mortgages and they will be available to borrowers looking to raise between £100,000 and £1 million. The high-street lender will offer two types of interest-only mortgages. Their new Low Start Mortgage gives borrowers a choice of three-year fixed rates that will automatically switch to full capital repayment after three years. The other interest-only mortgage will be available to those wanting to borrow a minimum of £300,000. Aaron Strutt, a broker at Trinity Financial, says: “It is highly unusual for a high-street lender to do anything for interest-only borrowers at the moment and the rates are competitively priced.” January 18, 2013
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