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:
Low Start Mortgage Fixed Rate Prices:
|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 www.cbonline.co.uk or www.ybonline.co.uk