Clydesdale & Yorkshire Banks cut 95% mortgage rates

People looking to make their first step on the housing ladder are getting a boost from Clydesdale and Yorkshire Banks with the launch of new lower rate First Time Buyer mortgages for those with smaller deposits.

Related topics:  Mortgages
Amy Loddington
10th October 2013
Mortgages

Launching across the banks’ retail branch and direct networks from tomorrow, the rate for first time buyers with just a 5% deposit has been cut by 50 bps, from 5.49% to 4.99%. 

A new Loan-to-Value tier at 90% is also being introduced, priced at 3.99%.

First time buyers taking the new 3 year fixed rate deals will also benefit from the banks’ current offer of no arrangement fee, saving £999, free standard valuation and £250 cashback on completion.

Andrew Pearce, Retail Director for Clydesdale Bank, said:

“We are long-time supporters of first time buyers with lower deposits having kept 95% loans available when others withdrew theirs. We have focused on proper underwriting, good affordability measures and consideration of individual circumstances.

“Our new 95% First Time Buyer Mortgage is simple; one loan, one rate, no arrangement fee.  Plus there’s the added benefit of a free valuation and £250 cashback.  This underlines our on-going commitment to playing our part in a healthy, sustainable housing market.”
 

More like this
Latest from Property Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.