The rate reductions take effect from December 15
Clydesdale Bank has announced rate reductions on its fixed residential and buy-to-let mortgage range, with the changes taking effect from December 15.
On its new customer products, the 75% to 90% loan-to-value (LTV) fixed rates have been reduced by up to 0.14%, now starting at 4.79%, while rates on the buy-to-let 60% to 75% LTV five-year fixes have been slashed by 0.21%, now from 5.32%.
Professional and newly qualified professional 85% LTV five-year fixed rates have been cut by 0.17%, now from 5.18%. Exclusive £1 million to £2 million 75% LTV fixed rates with a £1,999 fee have been reduced by up to 0.07%, now starting at 5.05%. Rates on the £1 million-plus 65% to 85% LTV fixes have been lowered by up to 0.10%, now from 5.14%.
For product transfers, the 65% to 95% LTV fixed rates with £499 fee have been reduced by up to 0.10%, now from 4.79%, while those with fee savers have been cut by up to 0.17%, now from 4.90%.
Buy-to-let 60% to 80% LTV five-year fixed rates for product transfer have been reduced by 0.21%, now from 5.32%, and professional and newly qualified professional 85% LTV five-year fixed rates have been lowered by 0.17%, now from 5.18%.
Still for product transfers, exclusive £1 million to £2 million 75% LTV fixed rates with a £1,999 fee have been cut by up to 0.07%, now from 5.05%, while £1 million-plus 65% to 85% LTV fixes have been slashed by up to 0.10%, now from 5.14%.
Clydesdale said the new rates will show on all sourcing systems and on its online application system today, while its Mortgage Illustrator will be updated in the afternoon. The current rates can also be viewed on its website.
The lender said brokers were also informed of the changes through email.
