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 launching the following Clydesdale Bank products on Tuesday 6 June.
New customer products
- NEW 65-75% LTV 2 & 5 year Interest Only fixed rates starting from 4.75%.
- NEW 80% LTV 2 & 5 year fixed rates with £999 fee and Fee Offers starting from 4.62%.
- NEW 65-75% LTV £1m+ 2 & 5 year fixed rates starting from 4.80%.
- NEW Exclusive 75% LTV £1-2m 2 & 5 year fixed rates starting from 4.74%.
- NEW Exclusive remortgage 75-80% LTV 2 & 5 year fixed rates with £500 cashback starting from 4.58%
We’ll also be making these changes at 8pm today:
New and existing customer products
- BTL 60-75% LTV fixed rates will be increased by 0.20%.
- Exclusive 65-75% LTV £1-2m fixed rates will be increased by 0.40%.
- 65-85% LTV £1m+ fixed rates will be increased by 0.40%.
- 65-90% LTV fixed rates will be increased by up to 0.40%.
- 85-90% LTV Professional and Newly Qualified Professional fixed rates will be increased by up to 0.40%.
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. If you’ve got any questions, you can get in touch with your Business Development Manager.
WE’VE MADE CHANGES TO CLYDESDALE BANK VARIABLE RATES
Following the decision by the Monetary Policy Committee to increase the Bank of England Base Rate on 23 March 2023 and 11 May 2023, we’ve made some changes. On 6 June 2023, we increased our Standard Variable Rate to 8.74%, our Offset Variable Rate to 8.95% and our Offset Variable Investment Housing Loan Rate to 9.24%.
What happens with cases at application or offer stage
All Variable Rate Discounted Offset products will see an increase to the interest rates from 6 June 2023 in line with the updated Variable Rate. All new revert-to-rates will be live from 6 June 2023.
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.