UK: Clydesdale Bank launches mortgages for professionals

Clydesdale Bank has released a range of mortgages specifically for newly qualified professionals, such as accountants, doctors, pilots, solicitors and more.

The bank’s existing range of mortgages for professionals have garnered popularity in the past, and Clydesdale is now focusing on newly qualified professionals to further strengthen this range and provide more features that these targeted customers will find particularly valuable.

The mortgage allows customers to borrow up to 5.5 times their salary, and between 85% to 95% loan to value (LTV). It offers terms of two, three and five years, with rates starting at 2.14%. Only offered through mortgage brokers, the products are available to those with an income of over £40,000 and who qualified in their profession within the last 5 years.

Hannah Maundrell, editor in chief of money.co.uk, suggests, “If this type of mortgage proves successful for Clydesdale we could see more providers start to offer similar products – healthy competition usually means a better deal for consumers, so we'll have to watch this space."

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