Clydesdale Bank is set to implement changes to its mortgage products, effective from tomorrow (Friday 13th September).
These adjustments will impact several core and exclusive mortgage offerings, including residential, remortgage, and professional products.
For core residential products, selected 2-year and 5-year fixed rates will be reduced by as much as 0.39%.
These revised rates will now start from 4.02%.
In its exclusive product transfer (PT) category, changes will focus on loans with a 65% loan-to-value (LTV) ratio.
The 2-year and 5-year fixed-rate options will see a reduction of up to 0.10%, with new rates starting from 3.99%.
This adjustment was brought in to appeal to borrowers looking to switch their mortgage while locking in a lower interest rate.
For exclusive remortgage products, selected 2-year fixed rates will be reduced by up to 0.24%.
Exclusive large loan products will also benefit from reductions, with selected 2-year and 5-year fixed rates dropping by up to 0.30%.
Lastly, professional products will see significant changes.
Selected 2-year and 5-year fixed rates will also decrease by as much as 0.39%.
Alongside these rate reductions, Clydesdale Bank also announced that the end dates for these fixed-rate products will now extend to December of the relevant year.
In addition to these rate adjustments, the bank has introduced changes to its lending policies.
From 9th September, Clydesdale Bank reduced the maximum number of borrowers it can accept on both residential and buy-to-let applications to two.
