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
Changes to our Variable Rates
Following the decision by the Monetary Policy Committee on 3 February 2022 to increase the Bank of England Base Rate to 0.50%, we’re making some changes. On 4 March 2022, we will increase our Standard Variable Rate to 4.74%, our Offset Variable Rate to 4.95% and our Offset Variable Investment Housing Loan Rate to 5.35%.
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.
What happens with cases at application or offer stage
Products discounted from any of the affected rates will see an automatic increase to the interest rates from 4 March 2022. All new revert-to-rates will be live from 4 March 2022.
You can find our current rates on our website.
We’re increasing Clydesdale Bank rates
We wanted to let you know that we’re making some changes to the following Clydesdale Bank products at 8pm today.
If you’re applying for one of these products on behalf of your customer, please send us the application as soon as possible.
You can find our current rates on our website.
- £1m+ 2 and 5 year fixed rates will be increased by up to 0.25%
- Core 75% LTV 2 and 5 year fixed rates will be increased by up to 0.09%
- Selected Core 80% LTV 2 and 5 year fixed rates will be increased by up to 0.07%
- Selected Core 85% LTV 2 and 5 year fixed rates will be increased by up to 0.04%
- Selected Core 90% LTV 2 and 5 year fixed rates will be increased by up to 0.05%
- Selected Professional and Newly Qualified Professional 2 and 5 year fixed rates will be increased by up to 0.26%
- Discounted Offset rates will be increased by 0.25%, in-line with the increase to OVR, now at 4.95%
- BTL 60% LTV 2 Year Fixed Rate will be increased to 1.89%