Breaking News: Clydesdale Bank Shakes Up Mortgage Rates
In a surprising turn of events, Clydesdale Bank has decided to play a little game of ‘Let’s Increase Some Rates!’ Effective tomorrow, Thursday 11th April, selected rates across its product range will be taking a hike. But fear not, dear readers, for we are here to break down the chaos that is about to ensue.
The Rate Rundown
In the realm of professional products, Clydesdale Bank will be cranking up selected 2-year and 5-year fixed rate products by up to 0.06%. That’s right, folks, get ready to pay a little extra for the pleasure of borrowing money!
But wait, there’s more! For those looking to remortgage their exclusive residential properties, brace yourselves for an increase of up to 0.05% on selected 2-year and 5-year deals. And if you thought variable rates were safe, think again! The 2-year variable rate offset discount products will be dancing up by 0.10%.
The Date Dilemma
To add a sprinkle of confusion to the mix, all end dates of the above products will be playing a little game of musical chairs, moving to July of the relevant year. Because who doesn’t love a good surprise deadline change?
Urgent Call to Action
Clydesdale Bank, in all its generosity, has kindly urged brokers to jump on the rate-securing bandwagon by submitting applications before 8pm today, Wednesday 10th April. Tick-tock, brokers, time is of the essence!
In Other News
But wait, there’s more mortgage madness happening in the world! Buckinghamshire Building Society is launching new mortgage products while cutting existing rates. Hanley Economic Building Society is strutting its stuff with a residential product suite. And West One Loans is diving headfirst into Right to Buy and Shared Ownership. It’s a mortgage frenzy out there!
And in a surprising twist, HSBC is actually reducing mortgage rates across its residential and BTL offering. Who would’ve thought?!
Stay tuned as we navigate the wild world of mortgage mayhem!
