Clydesdale Bank Reduces Mortgage Rates
26/3/09
Clydesdale Bank this week reduced interest rates across a range of its fixed, offset and flexible payment mortgages.
The Bank has also reduced the arrangement fee on its 2 year fixed rate mortgage by £1,000 for customers with up to 60% LTV. The rate is a very competitive 3.79%.
In addition, first time buyers with a 10% deposit can take advantage of Clydesdale Bank’s fee free 3 year mortgage fixed at 6.29%. First time buyers with a 5% deposit can access a rate of 6.99% with a £599 arrangement fee.
See table below for all rates :
| Products | Old Rate (%) |
New Rate (%) |
Arrangement Fee (£) |
|---|---|---|---|
| 2 Year Fixed < 60% LTV | 3.99 | 3.79 | 999 |
| 2 Year Fixed < 80% LTV | 4.49 | 3.99 | 999 |
| 5 Year Fixed < 60% LTV | n/a | 4.58 | 999 |
| 5 Year Fixed < 80 % LTV | 4.99 | 4.79 | 999 |
| 3 Year FTB < 90 LTV | 5.99 | 5.99 | 599 |
| 3 Year FTB < 90 LTV NO FEE | 6.29 | 6.29 | 0 |
| 3 Year FTB > 90 LTV | 6.99 | 6.99 | 599 |
| Current Account Mortgage Flexi / Rapid Repay < 60% LTV | n/a | 3.79 | 999 |
| Current Account Mortgage Flexi / Rapid Repay < 80 % LTV | 4.59 | 3.99 | 999 |
| Variable Offset < 60% LTV | n/a | 3.79 | 999 |
| Variable Offset < 80 % LTV | n/a | 3.99 | 999 |
Steve Reid, Retail Director Clydesdale Bank, said: "At Clydesdale Bank we are focused on providing innovative and competitive products and this latest cut in our mortgage rates underlines that commitment.
“We will work with all our customers to find the correct mortgage to suit their individual needs whilst continuing to deliver the high level of service that our customers have grown to expect.”
Clydesdale Bank was named “Best Mortgage Lender in Scotland” by Your Mortgage magazine for the fifth year running and remains committed to meeting the needs of its customers
You can find impartial information and guidance on money matters on the “Money advice service” website.
Clydesdale Bank is covered by the Financial Services Compensation Scheme (FSCS), Find out more.