Clydesdale Bank is set to make changes to its mortgage rates, with some rates increasing and others decreasing by up to 0.2%. These changes will come into effect on 14 June, so borrowers need to be aware of how this could affect them.
In the core residential range, selected five-year fixed rates at 95% loan to value (LTV) will see an increase of 0.2%. For exclusive purchase and remortgage deals, the two-year fixed rate at 90% LTV will go up by 0.15%, while the two-year fixed remortgage deal at 80% and 85% LTV will increase by 0.1%. Additionally, in the professional range, the five-year fixed rate for newly qualified professionals at 95% LTV will also go up by 0.2%.
If borrowers are interested in these products at the current rates, they must submit their applications by 8pm today (13 June) to secure the former rate. On the other hand, selected 65% and 75% LTV fee and fee-free deals in existing customer residential deals will see a decrease of 0.1%. In the core residential purchase and remortgage category, 65% and 75% LTV fixed rates will fall by 0.15%, while exclusive remortgage products at 75% LTV will decrease by 0.15%.
It’s important for borrowers to stay informed about these changes and act quickly if they wish to secure the current rates before they increase. By understanding the adjustments made by Clydesdale Bank, borrowers can make informed decisions about their mortgage options.
Anna Sagar, the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions, has been following these developments closely. With her background in journalism and experience in the industry, she provides valuable insights into the world of mortgages and lending. Anna’s expertise and dedication to her work have earned her recognition in the form of multiple journalism awards.
In addition to her professional accomplishments, Anna enjoys a range of activities in her spare time, from reading and cooking to hiking and skiing. Her diverse interests and experiences contribute to her well-rounded perspective on the financial industry and beyond. As borrowers navigate the changing landscape of mortgage rates, experts like Anna Sagar can help guide them through the process and ensure they make the best decisions for their financial future.