Lender implements changes on products for new customers and product transfers
Clydesdale Bank has made changes to its residential and buy-to-let mortgage range, reducing the rates of some of its products.
The lender has relaunched residential 75% and 80% LTV fixed rates, now starting at 5.42%. Its 75% to 90% LTV fixed rates were reduced by up to 0.48%, now from 4.99%. Selected buy-to-let at 60% to 75% LTV fixed rates were lowered by up to 0.41%, now from 5.39%.
Professional and newly qualified professional fixed rates, still for new customers, have been slashed by up to 0.33%, now from 5.40%. Clydesdale Bank has also reduced rates of its exclusive £1 million to £2 million fixes at 75% LTV with a £1,999 fee by up to 0.44%, now from 5.22%; while £1 million-plus fixed rates at 65% to 85% LTV were cut by up to 0.48%, now starting at 5.30%.
For product transfers, 65% to 95% LTV fixed rates with a £499 fee were lowered by up to 0.48%, now from 4.95%. Fixed rate fee savers at 65% to 95% LTV were reduced by up to 0.40%, now starting at 5.16%. Buy-to-let fixed rates at 60% to 80% LTV were slashed by up to 0.41%, now from 5.39%.
The bank said its professional and newly qualified professional fixed rates, under product transfers, were lowered by up to 0.33%, now from 5.40%. The lender’s exclusive £1 million to £2 million fixed rates at 75% LTV with a £1,999 fee were reduced by up to 0.44%, starting from 5.22%. The £1 million-plus 65% to 85% LTV fixed rates have been slashed by up to 0.48%, now from 5.30%.
The reduced rates, the lender said, will show on all sourcing systems and on its online application system. The current rates can also be viewed on Clydesdale Bank’s website.
