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.”