Mortgage applications rise at Clydesdale Bank
Mortgage applications have continued to rise at Clydesdale Bank due to a range of initiatives introduced to support borrowers.Between May and June this year, Clydesdale Bank saw a 30% increase in mortgage approvals compared to the same period in 2008.
This hike in mortgage approvals follows the Bank's pledge last week to make an additional £1 billion of new lending available to mortgage and business customers.
Clydesdale Bank has been offering a number of customer-focused initiatives to support borrowers and continue lending. These have included fee-free mortgage deals and best buy pricing, plus the Bank remains one of the few lenders that continue to offer 95% Loan To Value mortgages for first time buyers.
Steve Reid, Retail Director Clydesdale Bank, said: "At Clydesdale Bank we are always focused on meeting the needs of our customers.
"These initiatives underline our commitment to provide competitive mortgages and excellent service. These values have been met with a positive response from customers with continued growth in the number of mortgage applications we are receiving."
"In line with our traditional approach to lending and our commitment to remain open for business, Yorkshire Bank also remains one of only a handful of lenders supporting the first time buyers market with 95% Loan To Value mortgages."
The fee-free mortgage offer - the third such offer by the Bank in the last 9 months - was introduced on 5th May 2009. The Bank waived arrangement fees for new customers looking to re-mortgage on a range of fixed rate, offset and current account mortgages. The offer represented a saving of £999, the current re-mortgage arrangement fee for fixed, offset and current account mortgages.
In addition, customers re-mortgaging from another lender didn't pay any legal or valuation fees providing their mortgage is over £25,000 and they used Clydesdale Bank's appointed solicitors.
Clydesdale Bank has a range of competitive mortgages and for more information, visit cbonline.co.uk.