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Offset discounted OVR - 2 years Interest Only - Loans over £1m

For loans up to 75% of property value

Product nameOffset discounted OVR - 2 years Interest Only - Loans over £1m
Initial rate2.74%
(variable)
Initial rate expires on
31st March 2020
Rate thereafterStandard Variable Rate, currently
4.95%
Overall cost for comparison4.7% APRC
Arrangement fee
£1,999
Option to add arrangement fees to mortgageYes the arrangement fee can be added to the loan, provided the total borrowing does not exceed the maximum LTV for the product type
Eligibility

Available for purchase and remortgage, new applications and product transfer. Applicants must be aged 18 or over. All loans are subject to status. Security will be required

Maximum loan amount£2,000,000 - maximum LTV 75%
£3,000,000 - maximum LTV 70% (no more than 65% LTV to be Interest Only)
Loans Over £3,000,000- maximum LTV 60% (no more than 55% LTV to be Interest Only)
Maximum loan to value75%
Minimum loan amount£1,000,001
Early repayment chargeNone
Special offersRemortgage: Legal fees and valuation paid for remortgages only #
Special features

At the end of the discounted period you can make extra payments or repay your whole mortgage without penalty.

Link up to six Clydesdale Bank current and savings accounts to save on interest payments and repay your mortgage early.

You can even combine your business credit balances – available to sole traders and simple partnerships (two or more people in business and with their mortgage together; for example, a husband and wife or civil partnership couple).

 

# The switching package is only available to applicants moving their mortgage from another lender. If the property is unencumbered, a free valuation is available. Free valuations are available on properties worth £2m, or less. Optima Legal Services will charge a funds transfer fee of £42 to applicants who use the switching package.