Buy-to-let policy
- The maximum age at the end of the mortgage term is 75 and 364 days
- The maximum term is 40 years
- All BTLs must have a minimum EPC rating of E
- Leasehold properties should have at least 85 years remaining on the lease at the time of application
- The maximum loan size outside of London & South East England is £1m. The maximum loan size in London & South East England is £1.5m
- The total balance of all BTL mortgages with Clydesdale must not exceed £1m. This rises to £1.5m if one of the properties is in London or South East England
- Product fees can be added to the loan, but the total borrowing must not exceed 80% LTV
- For customers looking to borrow additional money, we will only be able to assist if the customer does not meet the definition of a portfolio landlord
- For any additional borrowing requests, affordability will be assessed using a stressed ICR, requiring rental income to cover the mortgage payment by a minimum of 145% at the applicable stress rate. We’ll continue to use an income & expenditure based assessment for certain other mortgage changes where there is no additional borrowing but we need to establish affordability, for example when a mortgage is ported
For these limits, London and the South East includes: Greater London (postcodes starting E, EC, N, NW, SE, SW, W, WC, BR, CR, DA, EN, HA, IG, KT, RM, SM, TW or UB), Berkshire, Buckinghamshire, East Sussex, Hampshire, Isle of Wight, Kent, Oxfordshire, Surrey and West Sussex.