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Clydesdale Bank reduces residential mortgage rates

Clydesdale Bank is reducing rates across a number of residential fixed and variable mortgage products that are available through brokers.

The new rates are available from today (June 13) and include a rate of 2.98% for a two-year fix at 70% LTV for loans up to £500,000, which has been reduced from 3.29% and comes with a fee of £999.

Meanwhile its two-year fix for loans of the same size but at 85% LTV has been cut from 5.19% to 4.99%, and comes with a £999 fee.

Clydesdale Bank has also reduced its five-year fix at 70% LTV from 4.59% down to 4.29%, which comes with a £999 fee and is available for loans up to £500,000.  

In addition, the lender has cut rates on some of its discounted offset products by 0.10%, such as its two-year discounted offset for loans up to £500,000, which has been reduced from 2.59% to 2.49% and comes with a product fee of £999.



Taking cover

With mortgage volumes flat the focus has shifted to adding insurance to brokers’ targets, but there is concern that creating a pressurised sales environment could lead to clients being sold cover they don’t need or want


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