Clydesdale Bank is refreshing its mortgage offerings with the introduction of new fixed-rate products and rate reductions across its existing range from Friday, 3rd November.
For homebuyers, the bank is unveiling a series of exclusive purchase deals. A new 75% LTV 2-year fixed rate will be available at 5.28%, and for those with a smaller deposit, an 85% LTV 2-year fixed rate at 5.56% and an 85% LTV 5-year fixed rate at 5.02% are also being launched.
These products are designed for loan amounts between £300,000 and £600,000, catering to a significant section of the housing market.
Professionals looking to purchase a property are being targeted with exclusive rates as well. The bank is introducing a 75% LTV 2-year fixed rate at 5.61% and a 5-year fixed rate at 5.09%, applicable to loans from £150,000 up to £1m.
In the large loan sector, Clydesdale Bank is reducing rates on select products. The 65% LTV 2-year fixed rate will see a cut of 0.13% to 5.40%, while the 75% LTV 2-year fixed rate will be reduced by 0.25% to 5.50%.
Additionally, 5-year fixed rates are set to decrease, with the 65% LTV rate dropping by 0.24% to 4.95% and the 75% LTV rate by 0.22% to 5.04%. These revised rates will be applicable for loan sizes ranging from £1m to £2m.
Clydesdale Bank is also adjusting rates for both new and existing customers. Selected 2-year fixed rates are being reduced by up to 0.26%, and selected 5-year fixed rates by up to 0.22%.
Moreover, the bank is cutting rates for selected Professional and Newly Qualified Professional fixed rates by up to 0.18%.
