Clydesdale and Yorkshire launch lowest-ever direct fixed rate

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Clydesdale and Yorkshire Banks have cut retail rates on a range of mortgages and launched their lowest ever fixed rate.

The banks now offer a two-year fixed rate at 1.59 per cent at up to 75 per cent LTV, with a £999 fee.

The lenders are also selling a five-year fixed rate loan at 2.49 per cent to 75 per cent LTV, with no fee on loans of more than £100,000.

The banks have reduced prices across both standard products and those with no arrangement or valuation fees.

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The banks have also launched the ‘five minute mortgage challenge’, a promise to tell homeowners in a few minutes whether they could save money with a Clydesdale or Yorkshire Bank mortgage.

Clydesdale and Yorkshire Bank propositions and marketing director Helen Page says: “Right now we are offering some of our best ever prices, including our lowest ever fixed rate, so this New Year there’s never been a better time to talk to us about your mortgage needs.”