Clydesdale Bank is making changes to the mortgage policy for foreign nationals.
The lender has added its largest LTV, expanded the list of acceptable visas and reduced the minimum time required for a visa.
For one applicant holding an indefinite leave joint application (ILR) but another applicant does not, Clydesdale will now loan to 95% of LTV without a minimum income requirement.
If no applicant holds an ILR, the bank will loan to 85% LTV without a minimum income requirement. If at least one applicant makes £75,000, that will rise to 90% of LTV.
To buy, Clydesdale will now lend up to 80% of its LTV. At least one applicant must be the owner occupant. If no one holds an ILR, an applicant must make £75,000. If an applicant holds an ILR, there is no minimum income requirement.
If the applicant using the visa earns, Clydesdale needs to have nine months left on the visa to be on the lender’s acceptable list.
