Clydesdale Bank is a commercial bank in Scotland. Formed in Glasgow in 1838, it is the smallest of the three Scottish banks. Independent until it was purchased by Midland Bank in 1920, it formed part of the National Australia Bank Group (NAB) between 1987 and 2016. Clydesdale Bank was divested from National Australia Bank in early 2016 and its holding company, CYBG plc, trades on the London and Sydney stock exchanges.
Overall representative example If you borrow £178,000 mortgage over 25 years initially at 4.49% fixed for 60 months reverting to 7.99% variable for term. 60 monthly payments of £988.37 and 240 monthly payments of £1306.89. Total amount payable £373,335.80 includes loan amount, interest of £194,956, valuation fees of £0 and product fees of £0. The overall cost for comparison is 6.7% APRC representative.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
What types of mortgages can I get with Clydesdale Bank?
Fixed rate Your interest rate remains locked for a set amount of time, providing more certainty as far as your monthly repayments.
Remortgages You can switch from your existing mortgage provider to Clydesdale Bank via one of its remortgage products.
Tracker With this type of mortgage, your mortgage rate shifts up and down alongside the Bank of England base rate
Buy to let You need a buy-to-let mortgage to borrow money to buy an additional property and let it out.
Offset With this type of mortgage, you use your savings to offset the amount of mortgage balance you pay interest on. Subtract your savings balance from your mortgage balance to get the amount you’ll pay interest on.
Shared ownership With a shared ownership mortgage, you can buy a percentage of the property and pay rent on the remainder. You can then apply to buy additional percentages of the property as and when you can afford it.
How to apply
You can apply online or by calling 0800 022 4313. Alternatively, you can visit a local branch or arrange an appointment via the lender’s website.
What information is needed to apply
You’ll need to give personal details, employment history and financial details. The lender will want to see previous payslips and bank statements to back up this information.
Eligibility criteria
You must be at least 18 years old when applying for a mortgage, and no older than 75 when your mortgage term is due to end. You’ll need at least three years of UK address history.
Clydesdale Bank doesn’t accept applicants with CCJs, defaults or mortgage arrears from the past 36 months.
Contact information
You can contact Clydesdale Bank by calling 0800 022 4313 or using the online chat at cbonline.co.uk.
Frequently asked questions
A mortgage with Clydesdale is an attractive proposition for first time buyers – included are £250 cashback at mortgage drawdown, fixed interest rates, expert advice, discount on home insurance, no product fee and free standard valuation.
Yes, you can. If you already have a mortgage and it’s either coming to an end or you’re on their standard variable rate, you can get in contact with Clydesdale to see if you can get a better deal. An advisor will be able to discuss your options with you in a branch.
An offset mortgage is a mortgage in which your savings and current account are linked to your mortgage account. This means that the mortgage balance that you pay interest on is reduced. When you open an offset account with Clydesdale, you’ll have the option of opening up to 6 accounts which can include current and savings accounts. Instead of earning interest, the deposited money in this account is used to offset the balance on your mortgage. So, if you have an £80,000 mortgage and £10,000 in your linked offset account, the monthly interest on your mortgage would be calculated based on £70,000 rather than £80,000.
Yes, you’re able to take a payment holiday so long as your mortgage isn’t a buy to let, you’ve made overpayments that are equivalent to 3 months payment, you’re not currently in a concessionary period, your payments are up to date and you haven’t had a payment holiday within the last year.
While you’re able to do this, it does involve going through a new mortgage application with a Clydesdale mortgage advisor. To arrange this, call Clydesdale on 0800 022 4313.
Yes, although if you overpay by too much, you’ll face an early repayment charge. The maximum amount you can overpay without a fee differs depending on the mortgage.
Yes, although if you overpay by too much, you’ll face an early repayment charge. The maximum amount you can overpay without a fee differs depending on the mortgage.
Depending on your mortgage, you may receive up to £500 cashback upon mortgage completion.
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Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife.
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