It launches new products and repriced existing ones
Clydesdale Bank has made changes to its residential and buy-to-let mortgage ranges, launching new products and repricing existing ones.
The lender launched two new products in its professional range. One is a two-year fix at 75% loan-to-value (LTV) with rates starting from 6.25%. The other is a five-year fix, also at 75% LTV, with rates starting from 5.60%.
Clydesdale also increased the rates of its exclusive products. Its £1 million to £2 million fixed rates were hiked by up to 0.43%, starting from 5.40%. Remortgage fixed rates with £500 cashback were also increased by up to 0.50%, starting from 5.48%.
For its new and existing customer products, full capital and interest fixed rates were raised by up to 0.60%, while interest-only fixed rates were increased by up to 0.66%. The £1 million-plus fixed rates were hiked by up to 0.66%, and professional 85% to 95% LTV fixed rates were increased by up to 0.55%.
Buy-to-let fixed rates at 60% to 75% LTV were increased by up to 0.50%, but BTL fixes at 80% LTV were reduced by 0.11%.
Clydesdale said the end dates will move to October of the relevant year.
The full details of all mortgage products offered by Clydesdale, reflecting the latest product changes, can be found on its website.
The bank has already made several changes to its product ranges since many lenders withdrew and repriced products in May due to increased swap rates and high inflation. The last time it made changes to its mortgage products, it also increased existing rates and launched new products.
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