Clydesdale increase LTV for New Build houses to 90%
This week we saw Clydesdale Bank increase the maximum LTV available on new build residential houses from 85% to 90% LTV. Clydesdale new build offering ensures all cases receive a dedicated specialist case manager, their offers are valid for 180 days from date of issue and they have a flexible criteria on builder incentives considering each application on a case-by-case basis. Clydesdale’s lending criteria generally is renown for being one of the most generous for the Self Employed and for day rate contractors.
Speak to your New Build Specialist for further details.
HSBC and TSB slash rates even further!
We have seen further rate cuts from the high street this week. With HSBC UK making rate reductions across its mortgage products, including some of its lowest ever rates for remortgages. Fixed rate products have seen reductions of up to 15bps and tracker products have reduced by up to 40bps.
HSBC now have a 5 year fixed rate available for new remortgage customers at 0.94% up to 60% LTV with a £999 fee. Similarly TSB have reduced rates on their 2 year fixed products for First Time Buyer’s and standard house purchase, at 80-95% LTV all with £995 fee, rates have been reduced by up to 20bps. As well as their BTL product range which have rate reductions of up to 55bps on their 10 year fixed products.
Virgin Money launch broker exclusives at 90% with £1000 cashback
Virgin Money also improved their 90% rates this week, bringing back their broker exclusive deals (i.e. clients can only access via a mortgage broker and not direct). The 90% LTV 2 Year Fixed Rate with a £995 fee is 1.99% and comes with a £1,000 cashback for the clients to help towards moving costs. They have mirrored the product to offer a 90% LTV 3 year fixed rate at 1.99% with £995 fee added and including the £1,000 cashback for those clients wanng to benefit from that extra year security. These products have proven very popular and will usually be withdrawn with very lile noce so speak to an adviser today if you have a client who may benefit.
