Clydesdale Bank has launched series of rate adjustments across its mortgage product range, set to take effect on Wednesday, 9th April.
The changes include a mix of rate reductions and increases, affecting both new and existing customers through its core, exclusive, and professional mortgage offerings.
Among the rate reductions, the most significant change comes in the core residential range, where 2- and 5-year fixed rates for loans with a loan-to-value (LTV) between 85% and 95% will be reduced by up to 0.64%.
In its exclusive product range, the 85% LTV 2-year remortgage deal will see a rate cut of up to 0.10%, while the 95% LTV 2- and 5-year purchase exclusive products will drop by up to 0.06%.
For professional mortgages, the 2-year fixed rates for residential loans with an LTV between 85% and 90% will be lowered by up to 0.20%.
However, the bank also confirmed several rate increases.
In Clydesdale’s core range, 5-year fixed rates for residential mortgages with an LTV between 65% and 75% will rise by up to 0.19%.
Exclusive products will also be affected, with the 75% LTV 5-year remortgage rate increasing by up to 0.10%, and large loan products between 50% and 75% LTV seeing an increase of up to 0.13%.
Professional mortgage products with low LTVs across selected 2- and 5-year deals will experience rate hikes of up to 0.15%.
Clydesdale Bank has advised brokers and customers that applications for the current rates must be submitted by 8pm today, Tuesday 8th April, ahead of the changes coming into force.
