Clydesdale Bank is set to reduce rates on several of its products, effective from tomorrow (Thursday 15th August).
For core residential products, selected 2-year and 5-year fixed rates will see reductions of up to 0.30%, with rates starting from 4.11%.
The bank’s exclusive remortgage products will also experience reductions of up to 0.12% on selected 2-year and 5-year fixed rates, with new rates beginning at 4.37%.
Clydesdale’s exclusive purchase products, including the 80% loan-to-value (LTV) 2-year and 5-year fixed rates, will be reduced by up to 0.12%, with rates starting from 4.44%.
For customers seeking large loans, Clydesdale Bank will reduce selected 2-year and 5-year fixed rates by up to 0.15%, with the new rates starting from 4.42%.
Meanwhile, the bank will launch new professional products, including 65% and 80% LTV 2-year and 5-year fixed rates.
Additionally, the 75% LTV 2-year and 5-year fixed rates within Clydesdale’s professional products category will be reduced by up to 0.14%, with these rates starting at 4.42%.
The bank will also reduce rates for its buy-to-let (BTL) products, specifically the 75% LTV 2-year and 5-year fixed rates, by up to 0.30%, with rates beginning at 4.90%.
All relevant end dates for these fixed-rate products will move to November of the applicable year.
As previously communicated on 1st August, Clydesdale Bank will also reduce several of its variable rates starting on Thursday 15th August.
The standard variable rate (SVR) will decrease from 9.24% to 8.99%, and the offset variable rate will drop from 9.45% to 9.20%.
Consequently, discounted Offset Variable rates will be reduced by 0.25%.
Additionally, the buy-to-let variable rate, along with the offset variable investment housing loan rate, will decrease from 9.74% to 9.49%.
