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 the decision by the Monetary Policy Committee on 16 December 2021 to increase the Bank of England Base Rate to 0.25%, we’re making some changes. On 13 January 2022, our Standard Variable Rate will move to 4.49%, our Offset Variable Rate will move to 4.70% and our Offset Variable Investment Housing Loan Rate will move to 5.10%.
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 13 January 2022. For all other products, the new revert-to-rates will be live from 13 January 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. If you’ve got any questions, you can get in touch with your Business Development Manager.