Clydesdale Bank has launched a new product matrix to its broker partners which includes a two-year capped offset mortgage, the first time Clydesdale has offered a mortgage of this type.
The new suite of mortgage products include improvements to Clydesdale Banks current traditional and offset tracker products, which have the added benefit of being available as capped products.
The new products are a traditional tracker, with 0.19% to 0.24% over Bank base rate, reverting to 0.55% over Bank base rate for life after two years. It will be 4.69% purchase and 4.74% remortgage. There is also a capped traditional tracker, with 0.39% to 0.44% over Bank baserate, reverting to 0.55% over bank rate base for life after two years. It will be 4.89% purchase and 4.94% remortgage.
Clydesdale are also offering an offset tracker with 0.39% to 0.44% over Bank base rate reverting to 0.75% over bank base rate for life after years and will be 4.89% purchase and 4.94% remortgage. The bank will also offer a capped offset tracker at 0.49% to 0.54% over bank baserate reverting to 0.75% over bank base rate for life after two years and will be 4.99% purchase and 5.04% remortgage. There will also be a two-year traditional fixed rate at 4.65% purchase and 4.75% remortgage.
The mortgages carry an arrangement fee of 449. Clydesdale Bank does not charge a fee on completion.
Commenting on the launch of the new products, Dean Cutbill, general manager of Third Party Distribution, says: “Our new products are extremely attractive for customers looking to purchase or remortgage to Clydesdale Bank. We have already received positive feedback from our broker partners who are particularly excited about the new capped offset mortgage.