Bank slashes product rates by up to 0.47%
Following other lenders who repriced rates in the first week of the new year, Clydesdale Bank has decided to lower rates on selected mortgage products.
With immediate effect, the bank has implemented reductions of up to 21 basis points (bps) on selected two- and five-year fixed rates for new and existing residential customers. Additionally, selected two- and five-year interest-only fixed rates saw a reduction of up to 21bps.
Exclusive residential large loan deals for loan sizes between £1 million and £2 million got rate reductions of up to 21bps on selected two- and five-year fixed rates.
Exclusive purchase and remortgage deals are part of this adjustment as well, with purchase two- and five-year fixed rates getting cuts of up to 47bps, now starting at 4.27%, and remortgage two- and five-year fixed rates having reductions of up to 33bps, starting at 4.60%.
In the professional products category, selected professional and newly qualified professional fixed rates have been decreased by up to 21bps, starting at 4.90%.
For buy-to-let products, five-year fixed rates have been reduced by up to 30bps. Furthermore, selected existing customer two- and five-year fee-saver fixed rates will witness reductions of up to 32bps.
Full details of all mortgage products of Clydesdale Bank, reflecting the latest rate changes, are available on the lender’s website.
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