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 Clydesdale Bank Variable Rates
Following September’s increase to the Bank of England Base Rate, we’re making some changes to our Variable Rates. On 4 November 2022, we will increase our Standard Variable Rate to 6.49%, our Offset Variable Rate to 6.70% and our Offset Variable Investment Housing Loan Rate to 6.99%.
What happens with cases at application or offer stage
All Variable Rate Discounted Offset products will see an increase to the interest rates from 4 November 2022 in line with the updated Variable Rate. All new revert-to-rates will be live from 4 November 2022.
What happens with existing clients
Customers who are impacted by this rate change will be contacted to let them know of any changes to their mortgage.
We’ll let you know of any further changes to our Variable Rates following today’s Bank of England Base Rate change.