Clydesdale Bank has confirmed a series of mortgage rate reductions set to take effect from tomorrow, Friday 16th May.
The changes apply across a broad range of the bank’s residential offerings, including core, exclusive, and professional mortgage products.
For its core residential and product transfer range, the bank will reduce selected 2- and 5-year fixed rates for loans between 65% and 75% loan-to-value (LTV) by up to 0.15%.
Additionally, its 2-year discount offset mortgage for loans above £1m at 80% LTV will see a 0.10% cut.
The exclusive product line will also see notable reductions. The 2-year purchase exclusive at 90% LTV will drop by 0.10%, while large loan exclusive rates for 65%-75% LTV brackets will be cut by up to 0.15%.
Remortgage exclusives between 75% and 80% LTV are set for the largest drop in this category, with reductions of up to 0.20%.
Product transfers for existing customers and large loan exclusives at 50% LTV will also benefit from rate cuts of up to 0.15%.
In its professional range, selected 2- and 5-year fixed rate products covering 65% to 80% LTV will be reduced by up to 0.25%.
