Clydesdale mortgage lender review
One of Scotland’s most well-known mortgage lenders
UK's 10th largest lender
Clydesdale lent £5bn in 2018. That's almost 2% of all mortgage lending.
12-day submission time
That's 4 days faster than the average of 25 lenders we measured.
Borrow 5.5x your income
You could borrow up to this amount if you meet the lender's requirements.
Clydesdale Bank is the smallest of Scotland’s three banks (the other two are Bank of Scotland and Royal Bank of Scotland).
Founded in 1838 at a time of huge industrial, economic and social change, Clydesdale’s founders helped raise Glasgow’s status as an international city.
Clydesdale Bank mortgages are available to a wide range of people, but they generally won’t lend to you if you have particularly bad credit.
We’ve reviewed some of the UK’s top mortgage lenders and measured their service, application speed and affordability.
In this review we’ll cover:
All information on this page was up to date as of August 2019.
Is Clydesdale a good mortgage lender?
There are many ways to measure how good a lender is. We've chosen to focus on publicly available complaints data to estimate their quality of service.
We looked at Clydesdale’s customer complaints record between July and December 2018.(1) During this period, the Financial Conduct Authority (FCA) received 1,008 officially upheld complaints. That’s around 0.4% of customers, which is equal to the 0.4% average across the major lenders.
How long does a Clydesdale mortgage application take?
During the last six months, the average speed that Clydesdale processed a Trussle customer’s successful mortgage application was 21 days. That’s slower than the 16-day average across all the lenders we’ve submitted applications to.
Bear in mind that the speed of application will vary depending on your own personal circumstances and the lender’s present day-to-day performance. In some cases, applications can be approved by the lender within 24 hours, while some can take weeks or even months. This can also be impacted by the quality of the application submitted, which is why you may want to consider using a mortgage broker. The average quoted speed therefore may not reflect your own experience.
How much could I afford to borrow from Clydesdale?
The amount you can borrow for a mortgage can vary. Eligible newly qualified professional applicants with a minimum income of £40k could borrow up to 5.5 times their income before tax.
You’ll find Clydesdale’s mortgage calculator on their website – this will give you an estimate of how much you may be able to borrow.
Frequently asked questions (FAQs)
This information was updated in August 2019.
What types of mortgages do Clydesdale offer?
Clydesdale provides a range of different mortgages, including first-time buyer, fixed-rate, buy-to-let and offset mortgages.
Clydesdale first-time buyer mortgage
Clydesdale’s first-time buyer mortgage option is designed to help people onto the property ladder. As with any mortgage deal, eligibility criteria applies.
Clydesdale fixed-rate mortgage
If you want to know exactly how much your monthly repayments will be, a fixed rate mortgage is worth considering. The amount you pay remains the same for the duration of the fixed-rate period, making it easier to plan your finances.
Clydesdale buy-to-let mortgage
Clydesdale’s buy-to-let (BLT) mortgage is designed for borrowers who want to buy a property as an investment to rent out. You must be 18 or over and have a good credit history to apply.
Clydesdale offset mortgage
With this type of mortgage, your eligible current and savings accounts are linked to your mortgage to reduce the amount you pay interest on. For example, if your mortgage is £90,000 and you have £15,000 in your linked accounts, the monthly interest rate will be based on £75,000.
How long is a Clydesdale mortgage offer valid for?
A Clydesdale mortgage offer is valid for 180 days.
What is Clydesdale Bank’s mortgage application process?
Clydesdale’s mortgage application process is similar to that of other lenders, but it may vary depending on your individual circumstances.
When is my first mortgage payment to Clydesdale due?
Following the completion stage, Clydesdale will confirm the amount of initial interest they’ll charge you and when the payment will be taken.
How much can you overpay on a Clydesdale mortgage?
Some of Clydesdale’s mortgage deals allow overpayments and you can increase your monthly payments if they think you’ll be able to afford it.
Do Clydesdale offer mortgage payment holidays?
If you fall into financial difficulty, Clydesdale may be able to extend your mortgage term or look at what you can pay for the short-term. To find out if the lender offers payment holidays, contact them directly.
What will happen when my Clydesdale mortgage deal ends?
With Clydesdale, there are no early repayment charges if you switch to a new deal online in the last three months before your current deal ends (or at any time if you’re on one of the bank’s lender variable rates).
Where can I find Clydesdale Bank mortgage reviews?
You can find reviews of Platform’s mortgages on a range of consumer review sites and forums, including TrustPilot and Moneysavingexpert.com.
What insurance do Clydesdale require me to have?
In order to help safeguard the lender’s investment in your home, they will always require you to take out buildings insurance on the property.
Contents insurance isn’t compulsory but is highly recommended.
Did I have PPI on my Clydesdale mortgage?
To find out if you were sold PPI, check your mortgage agreement. It’s likely that you’ve been sold it if the document contains any of the following terms:
The FCA deadline for PPI complaints was 29 August 2019, however you might be able to file a complaint if there is a “significant or exceptional” reason as to why you missed the deadline.
What are Clydesdale Bank’s mortgage contact details?
You can reach Clydesdale 24 hours a day on 0800 345 7365.
Visit their website for alternative contact methods, including online enquiries.
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