Bank implements rate cuts of up to 72bps
Clydesdale Bank has made changes to its mortgage products, with rate reductions applied to both new and existing customer products.
For two- and five-year fixed rates, the bank has reduced selected products by up to 72 basis points (bps). Similarly, for two- and five-year interest only fixed rates, the reduction was up to 37bps.
The reprice extends to exclusive large loan deals, with selected two- and five-year fixed rates seeing a reduction of up to 72bps for loan sizes between £1 million and £2 million.
In addition, exclusive purchase and remortgage deals have undergone modifications, with selected purchase two- and five-year fixed rates reduced by up to 30bps, now with rates from 4.14%. Remortgage fixes have been reduced by up to 62bps, with rates starting at 4.19%.
For professional clients, selected professional and newly qualified professional fixed rates have seen reductions of up to 41bps, the lowest rate now at 4.49%.
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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