CYBG launches 0.99% rate mortgage

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Clydesdale and Yorkshire Bank has launched its lowest-ever mortgage rate of 0.99 per cent.

The rate applies to the firm’s two-year discounted standard variable rate at 60 per cent LTV.

The product is available at a 3.96 per cent discount to the firm’s SVR.

The mortgage is available for new and existing customers for loans of between £80,000 and £400,000.

There is an arrangement fee for new customers of £1,449.

The product is available direct and through brokers.

Clydesdale and Yorkshire Bank head of mortgages Caroline Graham says: “We are offering our lowest ever mortgage rate which – if interest rates remain at their current levels  – could represent a saving of over £200 per month on a £150,000 mortgage over the next two years.”

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