Clydesdale and Yorkshire Banks cut rates by up to 0.2%

Clydesdale and Yorkshire Banks are cutting rates on a number of two and five-year fixed rate mortgages by up to 0.2 per cent from today.

Additionally, the £999 arrangement fee no longer applies to new customers who are moving their mortgage and who open an account with Clydesdale and Yorkshire Banks. Customers moving their mortgage from another lender will receive a £500 reduction on the fee.

Six rates have been reduced including the rate on a five-year fix up to 70 per cent LTV, which has been cut by 0.2 per cent from 3.49 per cent to 3.29 per cent.

The rate on a three-year fix up to 70 per cent LTV has also been cut by 0.2 per cent, from 3.19 per cent to 2.99 per cent.

Clydesdale and Yorkshire Banks retail director Andrew Pearce says: “Many people are now opting for fixed rate mortgages so they will know exactly how much their mortgage payments will be on a monthly basis.

“We remain focused on offering a range of competitive products that meet the differing needs of our customers.”