Clydesdale Bank has announced an important product update for advisers. Please see below for more details. Contact us for more information, alternatively, you can visit their website here.
ANNOUNCEMENTS
We’re making some changes.
We wanted to let you know that we’re making some changes to Clydesdale Bank products and variable rates.
Changes to Clydesdale Bank products
We’ll be increasing the following rates at 8pm today:
- 75% – 95% LTV 2 and 5 year fixed rates will be increased by up to 0.26%.
- Selected BTL 60 – 75% LTV 2 and 5 year fixed rates will be increased by up to 0.15%.
If you’re applying for one of these products on behalf of your customer, please send us the application as soon as possible.
Changes to Clydesdale Bank variable rates
Following the decision by the Monetary Policy Committee on 5 May 2022 to increase the Bank of England Base Rate to 1.00%, we’re making some changes. On 7 June 2022, we will increase our Standard Variable Rate to 5.24%, our Offset Variable Rate to 5.45% and our Offset Variable Investment Housing Loan Rate to 5.85%.
What happens with cases at application or offer stage
All Variable Rate Discounted Offset products will see an increase to the interest rates from 7 June 2022 in line with the updated Variable Rate. All new revert-to-rates will be live from 7 June 2022.
What happens with existing customers
Customers who are impacted by this rate change will be contacted to let them know of any changes to their mortgage.
You can find our current rates on our website.
New 65% LTV fixed rates for existing customers
We wanted to let you know that we’ve launched the following Clydesdale Bank products today.
To confirm what we said on Monday 6 June, we’ve also made these changes to Clydesdale Bank products:
- 75% – 95% LTV 2 and 5 year fixed rates have been increased by up to 0.26%.
- Selected BTL 60 – 75% LTV 2 and 5 year fixed rates have been increased by up to 0.15%.
- Our Standard Variable Rate is now 5.24%, our Offset Variable Rate is now 5.45% and our Offset Variable Investment Housing Loan Rate is now 5.85%
New products for existing customers
- 65% LTV 2 Year Fixed Rate with £999 fee at 2.70%.
- 65% LTV 2 Year Fixed Rate with no fee at 2.89%.
- 65% LTV 5 Year Fixed Rate with £999 fee at 2.75%.
- 65% LTV 5 Year Fixed Rate with no fee at 2.94%.