Changes to our Variable Rates

11th July 2024

Following a review of our pricing we’ve now reduced our managed variable rates.

On 11 July 2024, we decreased the following Clydesdale Bank variable rates:

• Our Standard Variable Rate moved from 9.49% to 9.24%.
• Our Offset Variable Rate moved from 9.70% to 9.45%.
• Our Buy to Let Variable Rate, Offset Variable Investment Housing Loan Rate moved from 9.99% to 9.74%.

What happens with cases at application or offer stage

All Variable Rate Discounted Offset products will see a reduction to the interest rates from 11 July 2024 in line with the updated Variable Rate. All new revert-to-rates will be live from 11 July 2024 and customers will be contacted to let them know their new rate and monthly payment on completion of the loan.

What happens with existing customers

Clydesdale Bank customers affected by these changes will be contacted to let them know when their new rate will become effective, following their next payment date after 11 July 2024. Their new payment will become effective from the month after that.

If you’ve got any questions, you can get in touch with your Business Development Manager.