Clydesdale Bank has confirmed it will be increasing rates on a range of its mortgage products, effective from Wednesday, 4th June.
The changes will affect several offerings across the bank’s core residential, exclusives, and professional ranges, with selected rates rising by as much as 0.25%.
Among the adjustments, selected core residential products with loan-to-value (LTV) ratios between 65% and 75% – including both 2- and 5-year fixed-rate options – will see increases of up to 0.25%.
This also applies to product transfer rates within the same category.
The bank’s exclusive product range will also be impacted. Selected 2- and 5-year large loan exclusives with LTVs from 50% to 75% will experience rate hikes of up to 0.25%.
Similarly, product transfer exclusive rates at 65% LTV for 2- and 5-year terms will increase by the same margin.
Meanwhile, the 2- and 5-year 75% LTV remortgage exclusives and 90% LTV purchase exclusive rates will each see a smaller rise of 0.10%.
Professional mortgages are also affected, with selected 2- and 5-year fixed rates for borrowers with LTVs between 65% and 75% also rising by up to 0.25%.
Clydesdale Bank has advised brokers to submit applications for the affected products before 8pm today in order to secure current rates.
