Clydesdale Bank announces important changes to its Mortgage products

We have made a number of changes to our intermediary product range which will be effective immediately.

18th November 2011

Whilst some rates have increased, we are really pleased to be able to reduce rates on some of our products. For instance, we now have a sub 4% 5 year fixed rate available up to 75% LTV and a sub 5% 5 year fixed rate available up to 85% LTV. These new rates can be viewed on our product pages.

The details of the withdrawn products and pipeline information are set out here.

Products withdrawn:

• 2 year Fixed Rate maximum 70% LTV with an initial rate of 2.69%
• 2 year Fixed Rate maximum 75% LTV with an initial rate of 2.99%
• 2 year Fixed Rate maximum 80% LTV with an initial rate of 3.69%
• 2 year Fixed Rate maximum 85% LTV with an initial rate of 4.69%
• 3 year Fixed Rate maximum 70% LTV with an initial rate of 2.89%
• 3 year Fixed Rate maximum 80% LTV with an initial rate of 3.99%
• 3 year Fixed Rate maximum 85% LTV with an initial rate of 4.99%
• 5 year Fixed Rate maximum 70% LTV with an initial rate of 3.59%
• 5 year Fixed Rate maximum 75% LTV with an initial rate of 4.09%
• 5 year Fixed Rate maximum 80% LTV with an initial rate of 4.59%
• 5 year Fixed Rate maximum 85% LTV with an initial rate of 5.39%
• 2 year offset discount maximum 80% LTV with an initial rate of 3.89%

Please click here to view our full range of mortgages.

All other products are unchanged.

To help you manage any applications in progress, we will accept applications or the withdrawn products until 5.00pm on Wednesday, 23 November.

Additional important information:

In addition to these new rates, you can also now add arrangement fees to the loan, providing that the total loan (including the fee) does not exceed 85% LTV for residential applications or 70% LTV for Buy to Let cases.

Also, please note that from 1 January 2012, we will require all applications to be typed rather than hand written. We have conducted significant research and we are able to deliver much improved offer speeds when applications are typed. This will benefit both you and your clients.

For further information about our products, please contact your local Relationship Partner or call us on 0800 678 3066 (open 9am to 5pm weekdays).

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