Clydesdale Bank's Mortgage Rate Shift: What It Means for Homeowners

Clydesdale Bank has made significant changes to its mortgage rates, affecting both new and existing customers. Find out what this means for homeowners and how to navigate the shifting landscape of the mortgage market.

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Clydesdale Bank’s Mortgage Rate Shift: What It Means for Homeowners

In the midst of a turbulent mortgage market, Clydesdale Bank has made a significant move: it’s increasing rates across selected 80% to 95% loan-to-value (LTV) core and exclusive fixed rates, effective from tomorrow (14 June).

Rate changes are on the horizon

The bank’s core residential range 95% LTV five-year fee and fee offer fixes will be increased by 0.20%. The exclusive purchase and remortgage 90% LTV purchase two-year fix will go up by 0.15%, while the 80% and 75% LTV remortgage two-year fix will be increased by 0.10%. Additionally, the 95% LTV newly qualified professional five-year fix will see a 0.20% rate hike.

But it’s not all bad news. Clydesdale Bank is also cutting rates across selected ranges. For existing residential customers, selected 65% and 75% LTV fee and fee offer fixes will be lowered by 0.10%. The purchase and remortgage core residential range 65% and 75% LTV fixes will be reduced by 0.10%, while the exclusive remortgage 75% LTV fixes will be lowered by 0.15%.

Clydesdale Bank’s rate changes aim to strike a balance

As a homeowner, it’s essential to stay informed about these changes and how they might impact your mortgage. Whether you’re a first-time buyer or a seasoned homeowner, understanding the intricacies of the mortgage market is crucial in making informed decisions.

The bank’s decision to hike rates may be a response to the current market conditions, but it’s also a reminder to borrowers to assess their financial situation and consider their options carefully.

Mortgage rates continue to shift

In this era of uncertainty, it’s more important than ever to stay on top of mortgage rate changes and understand their implications. As a homeowner, it’s vital to be proactive and adapt to the changing landscape of the mortgage market.

By doing so, you can make the most of the available options and ensure that your mortgage works for you, not against you.

What do you think about Clydesdale Bank’s rate changes? Share your thoughts in the comments below.