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Clydesdale and Yorkshire Banks launch Low Start Mortgages

19th August 2013

Clydesdale and Yorkshire Banks today (Monday 19th August 2013) launched Low Start Mortgages through their retail network.

Clydesdale and Yorkshire are the only Banks offering this innovative approach as part of their range of mortgage products, and Low Start combines the lower payments of interest only with the long-term security of repayment mortgages (capital and interest).

Low Start Mortgages* begin on an interest only basis at a fixed rate for the first three years, automatically converting to capital and interest repayment basis for the remaining term of the loan.

Andrew Pearce, Retail Director for Clydesdale and Yorkshire Banks, said: “At Clydesdale and Yorkshire Banks we are focused on meeting the differing needs of our range of customers and we recognise that there are stages in life when it would be useful to be able to make lower mortgage payments.

“Low Start has been designed to meet this specific need within the market for a mortgage which initially offers lower payments, but also provides the peace of mind that the full loan will be paid off over the term of the mortgage.”

Low Start Mortgage Product Details:

  • The maximum loan to value for the Low Start Mortgage is 80%
  • Standard product features, eligibility criteria and the approach to underwriting are in line with Clydesdale and Yorkshire Banks’ full mortgage product range
  • Customer affordability at the outset is assessed based upon the higher capital and interest payment
  • At the end of the fixed rate period the mortgage reverts to Standard Variable Rate (currently 4.95%)
  • When the fixed rate period ends the customer will be invited to review their mortgage and could switch to another deal in line with the standard process at the end of a fixed term
  • Customers cannot take another low start mortgage
  • Maximum loan amount – £999,999

Low Start Mortgage Fixed Rate Prices:

LTV Rate Fee
Up to 60% 2.69% £999
Up to 70% 3.09% £999
Up to 75% 3.19% £999
Up to 80% 3.69% £999

Clydesdale and Yorkshire Banks have a range of competitive mortgages and for more information, please ask your local branch or contact 0800 22 24 26 for Clydesdale Bank or 0800 20 21 22 for Yorkshire Bank or visit or

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