Clydesdale Bank will be making a range of changes to its mortgage products starting Wednesday, 30th April.
The update includes both reductions and increases to selected interest rates across its residential and buy-to-let offerings.
Among the adjustments, rates on selected Core Residential products – specifically those in the 65% to 75% loan-to-value (LTV) range for 2- and 5-year terms – will be reduced by up to 0.15%.
These changes will also apply to existing customers looking to transfer their current residential products.
The bank’s Exclusive range will also see several rate cuts. Residential purchase exclusives at 90% LTV for 2- and 5-year terms will decrease by up to 0.10%.
In addition, selected large loan exclusives within the 65% to 75% LTV bracket, as well as 50% LTV large loan exclusives, will be reduced by as much as 0.15%.
Existing customers under the Exclusive Product Transfer scheme will also benefit from rate reductions of up to 0.15%.
However, not all rates are headed downward. Clydesdale Bank will also implement rate increases on selected buy-to-let (BTL) products.
Specifically, certain 2- and 5-year BTL rates at both 60% and 75% LTV will rise by up to 0.09%.
For mortgage advisers and brokers, Clydesdale has advised that applications for affected products should be submitted by 8pm today in order to secure current rates ahead of the changes.
