Clydesdale Bank Cuts Mortgage Rates Across the Board

As the mortgage market continues to evolve, Clydesdale Bank has announced a series of rate reductions across its selected mortgage deals, effective from July 2nd. This move is set to benefit borrowers looking for a more affordable deal.

Residential Mortgage Rates Slashed

For core residential products, fixed rates for 65% to 75% loan-to-value (LTV) products will see a reduction of up to 0.15%, with rates starting from 4.44%. This is a welcome move for first-time buyers and homeowners looking to remortgage.

Mortgage rates are on the decline

Additionally, 95% LTV fixed rates will be reduced by 0.20%, now starting from 5.34%. This is a significant drop, making it more accessible for borrowers with smaller deposits.

Professional and Exclusive Products Also Affected

The bank is also lowering rates for professional products, with selected Professional and Newly Qualified Professional fixed rates reduced by up to 0.38%. This is great news for professionals looking to get on the property ladder or remortgage.

In the exclusive products category, remortgage fixed rates will be reduced by up to 0.15%, with the new rates starting from 4.52%. Purchase fixed rates will decrease by up to 0.18%, starting from 4.61%.

Mortgage applications are on the rise

Furthermore, Clydesdale Bank has increased the maximum loan size available on its exclusive purchase deals, with amounts now available up to £2.5m. This is a significant increase, making it more accessible for borrowers looking for larger loans.

Buy-to-Let Rates Also Reduced

In its buy-to-let (BTL) offering, 2-year and 5-year fixed rates will be reduced by up to 0.73%. This is a welcome move for landlords looking to expand their portfolios or remortgage existing properties.

Buy-to-let rates are on the decline

Additionally, fixed rate products with a £3,999 fee will now be available to new business customers. This is a great option for borrowers looking for a more competitive deal.

Overall, these rate reductions are a positive move for the mortgage market, making it more accessible and affordable for borrowers. Whether you’re a first-time buyer, homeowner, or landlord, there’s never been a better time to explore your mortgage options.

Mortgage brokers can help you find the best deal

As a mortgage broker, I’ve seen firsthand the impact of rate reductions on borrowers. It’s essential to shop around and find the best deal for your circumstances. With these new rates, borrowers can save thousands of pounds over the life of their mortgage.

Use a mortgage calculator to find the best deal

In conclusion, Clydesdale Bank’s rate reductions are a welcome move for the mortgage market. Whether you’re looking to remortgage or purchase a new property, there’s never been a better time to explore your options. So, what are you waiting for? Get in touch with a mortgage broker today and start saving thousands of pounds on your mortgage.