It increases rates on certain products, and drops rates on some
Clydesdale Bank has announced a series of adjustments to the interest rates of various products, impacting both new and existing residential mortgages, professional mortgage products, and exclusive residential deals.
For new and existing residential customers, the bank will hike interest rates on selected two- and five-year fixed rate mortgages with loan-to-value (LTV) ratios of 65% and 75% by up to 0.13%.
Professional mortgage products will also see changes, with a specific two-year fixed rate product at 75% LTV getting a rate hike of 0.05%. Additionally, exclusive residential deals will have an upward adjustment, with selected two- and five-year fixed rate mortgages increasing by up to 0.10%.
Similar to rate adjustments earlier this month, Clydesdale Bank has also implemented rate reductions on certain products within its buy-to-let and interest-only ranges.
Selected two- and five-year fixed rate BTL mortgages will benefit from a reduction of 0.30%, while selected two- and five-year fixed-rate mortgages at 80% LTV for both new and existing customers will see a decrease of 0.05%.
The bank has further indicated that the end dates for these mortgage products will be adjusted to June of the relevant year, reflecting the new rate changes.
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