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Coutts & Adam bolsters lending proposition with new mortgage and loan products
12/04/2017 , News Team

Coutts has launched two new products to add to its lending proposition. The products are also available to clients of Adam & Company and Coutts say are in response to client demand.
 
The new five year base rate tracker mortgage is the first such offering ever brought to market by Coutts. The bank said it believes it to be one of a few such products on the UK market for buy to let propositions. It is also available for residential mortgages and offers clients a flexible mortgage that allows them to make unlimited overpayments without incurring penalties. It is priced at 1.84 percent above the base rate for residential borrowing and 2.34 percent above base rate for buy to let borrowing.
 
A new fixed rate loan, starting at 2.59 percent, offers personal and non-personal Coutts clients the opportunity to borrow against a range of assets and at a fixed rate. Fees are capped at one percent and security that will be considered includes commercial property, investment property, land and deposits. Borrowing terms range between one and 10 years and will be available in Pound Sterling, Euro and US Dollars.
 
James Clarry, head of lending & capital management for Coutts, commented: "These products demonstrate the real flexibility that we can bring to our clients' borrowing needs and are designed in response to current client feedback. Our five year tracker mortgage - a first for Coutts - will allow clients to make unlimited overpayments in recognition of the fact that many have irregular incomes from their entrepreneurial business activities.
 
"In our 325th year, we continue to see real lending demand from our high and ultra-high net worth clients, with interest rates at historic lows. As a private bank we can deliver tailored and complex lending solutions with products such as these that may not be offered by high street banks. And with a low loan to deposit ratio and strong balance sheet, Coutts is very much open for new lending business."

For 2016, Coutts and Adam & Company reported net loans and advances of £12.2 billion, representing an increase of £1.0 billion compared to 2015.
 

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