Clydesdale Bank has announced it will be reducing rates and launching new customer products as of tomorrow, Friday the 29th of September.
The lender will be launching a new professional purchase only 85% loan-to-value (LTV) 2-year fixed rate at 6.10%, as well as a professional purchase 85% LTV 5-year fixed at 5.29%.
These deals are available for loan sizes between £150,000 and £1m.
As for its large loan deals, its 65% LTV 2-year fixed rate will be reduced by 0.35%, to 5.53%, its 65% LTV 5-year fixed rate will be reduced by 0.20% to 5.19% and its 75% LTV 2- and 5-year fixed rates will be reduced by up to 0.05%.
Clydesdale’s professional 2-year fixed rates will also see reductions of up to 0.10%, starting from 6.09%, while selected professional 5-year fixed rates will be reduced by 0.05%, starting from 5.35%.
Its newly qualified professional 2-year fixed rates will be reduced by up to 0.25%, starting from 6.14% and its 5-year fixed rates will be reduced by up to 0.25%.
Furthermore, selected 2-year fixed rates will be reduced by up to 0.25%, with 5-year fixed rates reduced by up to 0.25%.
Nicholas Mendes, mortgage technical manager at John Charcol, said: “This afternoon has really kicked off between the lenders, in quick succession there has been a flurry of advance notices from lenders.
“For anyone with an application in play, speak to a broker to see whether you can get a better deal than what was submitted originally.
“Likewise, those not using a broker, now is the chance to speak to someone to ensure you get the best deal moving forward.”
