Your guide to Clydesdale for intermediaries

With the rising demand for houses in the United Kingdom, a lot of mortgage companies are competing to partner with mortgage brokers or intermediaries. Home loan providers such as commercial banks, credit unions, and mortgage lenders have created intermediary-only platforms to better serve mortgage brokers and their clients. These lenders showcase their tools and products through their easy-access online hubs where intermediaries can register and create accounts.

In line with this, Clydesdale for intermediaries has an exclusive website for mortgage brokers in the UK where the latter can view everything that Clydesdale offers. They call this their ‘dedicated service for intermediaries’. In this online page, mortgage brokers are free to compare mortgage rates and other crucial information regarding Clydesdale’s property loan products. They can also track the progress of their clients’ mortgage applications and upload all the necessary documentation.

In this article, Mortgage Introducer will discuss all that you need to learn about Clydesdale for intermediaries’ mortgage offerings. We will help you get to know this mortgage lender to see if your clients fit their eligibility criteria. You can also review their available home loans and share them with your prospects.

Introduction to Clydesdale for intermediaries

Clydesdale Bank is the trading name of Clydesdale Bank PLC. It is authorised by the Prudential Regulation Authority (PRA). Both the PRA and the Financial Conduct Authority (FCA) regulate this banking institution.

Clydesdale Bank is registered to provide retail banking services in Scotland. Here are some of the products that they offer:

• credit cards
• savings accounts
• loans
• mortgages

Clydesdale Bank also offers two types of insurance:

• home insurance
• life and critical illness insurance

How does Clydesdale Bank support intermediaries?

Clydesdale for intermediaries supports their partner brokers by providing access to their exclusive online platform. Here, you can view Clydesdale Bank’s mortgage products, downloadable files, guides, and other helpful tools to make your clients’ mortgage application straightforward and hassle-free.

Affordability calculator

If you want to search for the right mortgage product for your clients, you can use Clydesdale for intermediaries’ affordability calculator. You can compare their mortgage solutions based on your clients’ income and type of borrowing, as well as:

• income and type of borrowing
• initial product interest rate
• home loan type
• loan term in months
• loan term in years
• estimated property value and/or purchase price

Here is a video on how to work out your clients’ mortgage affordability:

Clydesdale for intermediaries has numerous tools to support mortgage brokers and their clients who wish to apply for property loans. This is why even the top mortgage intermediaries in the UK will benefit from working with Clydesdale Bank.

BDM finder

Clydesdale for intermediaries will help you find your business development manager (BDM) to help you with the step-by-step mortgage proceedings. They can assist you in any of the following concerns and more:

• any queries about Clydesdale Bank for intermediaries’ home loans
• latest updates on their lending policy
• advice on applying for a mortgage with Clydesdale

To find your BDM, simply go to Clydesdale for intermediaries’ BDM finder page and input your firm FCA number and the postcode of your place of work.

Aside from Clydesdale Bank’s services, your assigned BDM will also help you if your clients wish to apply for mortgage with Virgin Money. Both Virgin Money and Clydesdale Bank have Virgin Money UK PLC as their parent organisation. For details on Virgin Money’s services for mortgage brokers, read our guide on Virgin for intermediaries.

Mortgage Illustrator

You can create and print mortgage illustrations for your clients with Clydesdale for intermediaries’ Mortgage Illustrator. However, Clydesdale Bank will only accept dealings with mortgage brokers who already have previously signed terms of business with them.

If you or your clients do not have any agreements with Clydesdale for intermediaries, using their Mortgage Illustrator will be fruitless because this tool is for existing clients and partner brokers.

Case Tracker

Would you like to stay up to date with the progress of your clients’ mortgage application? You can use Clydesdale for intermediaries’ Case Tracker tool. You can also upload supporting documents on your clients’ behalf. Once you apply (for your clients) to secure a mortgage with Clydesdale Bank, you should receive an email to confirm receipt.

Clydesdale will usually provide updates within 48 hours of the case being submitted.

Clydesdale Bank for intermediaries will also send you an email when your clients’ application reaches key stages in the mortgage application process. The same is true if Clydesdale requires additional or outstanding information from your clients.

How to use Clydesdale’s case tracker

To use Clydesdale Banks’ case tracker, register via their online application system and apply for the mortgage product that fits your clients’ needs and financial capacity. The case tracker is built into Clydesdale for intermediaries’ online application system. As such, intermediaries can use the same login details to track their clients’ application status.

You can upload supporting documents via case tracker with only the account that you use to submit your clients’ mortgage application.

Agreement in Principle by Clydesdale for intermediaries

A mortgage Agreement in Principle is your clients’ initial step to securing a property loan. This can let you know whether a mortgage lender—such as Clydesdale Bank for intermediaries—can lend the money that your clients need to borrow. Learn more about a mortgage Agreement in Principle after watching this video:

Clydesdale for intermediaries will only accept business from mortgage brokers who already have signed agreements with them. If you fit the bill, you can use Clydesdale’s Agreement in Principle tool. As for your clients, they can apply if they are:

• residents in the UK who are 18 years old and above
• residential mortgage clients looking for Clydesdale Bank’s Capital & Interest mortgage products

Clydesdale for intermediaries’ Agreement in Principle tool is only available for those who use sterling income or assets only to repay the mortgage. This is also exclusive for residential properties in the UK, except for Northern Ireland.

How long does it take to complete?

The process for Clydesdale Bank’s Agreement in Principle should take around five to ten minutes to complete. They will ask about your clients, their income, and regular spending. Clydesdale will also undertake a soft credit search about them. However, this does not have an impact on your clients’ credit file.

The information you share will help Clydesdale Bank decide on an agreement in principle in the amount your client wishes to borrow. If your client then decides to apply for one of Clydesdale’s mortgages, the bank will require more detailed information about your client’s circumstances.

A mortgage Agreement in Principle should not be treated as a guarantee that your clients’ mortgage application will automatically be accepted by Clydesdale. This should serve as a helpful tool that can provide you with an estimate about the amount that Clydesdale for intermediaries can lend.

Clydesdale for intermediaries’ eligibility criteria

For Clydesdale Bank’s Buy to Let eligibility criteria, we will start off with the age limits. Clydesdale will accept applications for Buy to Let mortgage so long as your client is 75 years old at the end of their mortgage term. As for the minimum age limit, your clients must be at least 18 years old.

Here are other requirements set by Clydesdale for intermediaries for their Buy to Let applicants:

• must have lived in the UK for at least three years
• must not exceed a maximum of two applicants

Clydesdale for intermediaries will only allow portfolio landlords if they are requesting a remortgage with no additional borrowing. Buy to Let applicants who are first-time landlords and first-time buyers will also be accepted.

As for property ownership, your clients do not need to be an owner-occupier if they wish to apply for Buy to Let mortgages with Clydesdale Bank.

Unacceptable mortgage applications

Clydesdale for intermediaries will not accept Buy to Let mortgage applications for properties with a house in multiple occupation (HMO) licence and from the following applicants:

• professional landlords
• limited companies or trusts
• landlords where there is evidence of a poor credit history such as county court judgments, defaults, or arrears on any loan
• landlords who have ever been bankrupt or subject to an Individual Voluntary Arrangement (IVA)
• landlords who do not have permanent rights to reside in the UK
• landlords who already have more than eight Buy to Let properties
• landlords who are residing abroad

Clydesdale for intermediaries’ mortgage products and services

Clydesdale for intermediaries has many property loan products for various client types. They also accept mortgage applications for both simple and complex cases. Here is a list of their mortgage offerings:

• Fixed rate mortgage
• Buy to Let mortgage
• Offset mortgage
• First Time Buyers’ mortgage
• Professional mortgage

All these are available for new applicants. Clydesdale Bank for intermediaries also accepts product transfers. Their mortgage solutions’ loan-to-value (LTV) ratios can be as high as 90% or as low as 65%.

Watch this video to understand what LTV is in terms of mortgage deals:

Find out the latest figures from all the top mortgage lenders such as mortgage rates and their LTV percentages in our guide to current mortgage rates in the UK. You can also visit this weekly for new updates.

Why work with Clydesdale for intermediaries

Working with Clydesdale for intermediaries is a positive move not only for your career as a mortgage professional but also for your clients. Their wide range of competitive mortgage products and helpful tools are just some of the many benefits that their partner intermediaries can enjoy.

Overall, if you are searching for the best mortgage lender for your clients, you can try exploring Clydesdale Bank for intermediaries’ services. However, you can still look at other mortgage providers intermediary-only platforms.

To help you with this, here are other guides to lending companies that you might be interested in:

• Your guide to Accord for intermediaries
• Your guide to Aldermore for intermediaries
• Your guide to Bank of Ireland for intermediaries
• Your guide to Barclays for intermediaries
• Your guide to BM Solutions for intermediaries
• Your guide to Coventry for intermediaries
• Your guide to HSBC for intermediaries
• Your guide to Kent Reliance for intermediaries
• Your guide to Leeds for intermediaries
• Your guide to Nationwide for intermediaries
• Your guide to NatWest for intermediaries
• Your guide to Paragon for intermediaries
• Your guide to Precise for intermediaries
• Your guide to Principality for intermediaries
• Your guide to the Mortgage Works for intermediaries
• Your guide to the West Brom for intermediaries

What do you think about this guide to Clydesdale for intermediaries? Is it helpful or not? Feel free to share your insights in the comments section below.