Clydesdale Bank has announced a series of rate reductions across its residential and buy-to-let mortgage ranges.
In its core residential range, selected 65-75% LTV rates have reduced by up to 0.15%, now starting from 4.44%, while 95% LTV rates have reduced by 20bps and now start from 5.34%.
Selected professional and newly qualified professional fixed rates are down by up to 0.38%.
In Clydesdale's exclusive range, purchase fixed rates have lowered by up to 0.18% and remortgage rates by up to 0.15%, now available from 4.52%. The lender is also increasing the loan size available on its exclusive purchase deals to £2.5m.
In addition, residential large loan exclusives at 65% and 75% LTV will have their loan band widened and will be available from £0.75m-£2.5m.
In the lender's buy-to-let range, two and five-year fixed rates have reduced by up to 0.73% and fixed rate £3,999 fee products will be made available to new business customers.
Virgin money reduces fixed rates
Virgin Money, Clydesdale's parent company, has also announced reductions across selected fixed rates and has simplified its product transfer range.
In its exclusive Fix and Switch range, which offers the security of a five-year fixed rate with the option to switch to another product with no early repayment charge after two years, rates have reduced by up to 0.10% and now start from 5.44% at 85% LTV, 5.59% at 90% LTV, and 5.94% at 95% LTV.
Exclusive purchase rates have reduced by up to 0.10%, with five-year fixed rates now starting from 4.50% at 75% LTV and 4.55% at 80% LTV.
Selected Own New fixed rates have decreased by up to 0.10% and now start from 1.09%. The Own New Rate Reducer scheme uses the incentives offered by housebuilders to provide lower mortgage rates for new build home purchasers.
In Virgin's core range, selected purchase and shared ownership rates have also seen reductions of up to 0.10%, while selected buy-to-let product transfer rates have reduced by up to 0.15%, now starting from 4.51%.
For product transfers, Virgin has launched new Help To Buy fee, LTV and term options, equivalent to its core fixed range. In addition, shared ownership customers can now select from the lender's standard product transfer range.
