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Clydesdale cuts rates; extends free valuation offer

Clydesdale Bank has cut rates by up to 10 basis points as well as widening its offer of free valuation to more residential products.

In the former group, the 80 per cent LTV two-year fix rate has been reduced from 1.99 per cent to 1.89 per cent, the 75 per cent LTV two-year fix rate from 1.89 per cent to 1.79 per cent, and the 75 per cent LTV for £1m or over two year-rate fix has also been cut from 1.89 per cent to 1.79 per cent.

Smaller rate cuts occur across other products – the 75 per cent LTV two-year fix with full C&I has had 5 basis points lopped off – from 1.64 per cent to 1.59 per cent, as had the 80 per cent LTV version, going from 1.74 per cent to 1.69 per cent.

Additionally, rates on the 95 per cent LTV five-year fix for firsts-time buyers has been chopped from 3.25 per cent to 3.19 per cent.

Residential products that qualify for free valuation are as follows: the 75 per cent, 80 per cent, 85 per cent and 90 per cent LTV two-year fixes ranging from 1.74 per cent to 2.29 per cent, and the 75 per cent, 80 per cent, 85 per cent, and 90 per cent LTV five-year fixes that go from 2.39 per cent to 2.79 per cent.

Clydesdale head of mortgage distribution Fred Sharp says: “We are delighted to announce these new rates. We are always looking at ways of delivering real value for our customers. We hope these rates together with the offering of a free valuation for more of our customers will help a range of customers to either get onto the property ladder or move home.”

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