Following the decision by the Monetary Policy Committee on 1 August 2024 to decrease the Bank of England Base Rate from 5.25% to 5.00% we’re making some changes.
On 15 August 2024 we will decrease the following Clydesdale Bank variable rates:
What happens to cases at application or offer stage?
All Variable Rate Discounted Offset products will see a reduction to the interest rates from 15 August 2024 in line with the updated Variable Rate. All new revert-to-rates will be live from 15 August 2024, your clients will be contacted to let them know their new rate and monthly payment on completion of the loan.
What happens to existing customers?
Clydesdale Bank variable rate customers affected by these changes will be contacted to let them know that the new rate will take effect on the date of their next payment after 22 August 2024. This will result in their new payment taking effect the following month.
If you’ve got any questions, you can get in touch with your Business Development Manager.
If you are not an intermediary of the Bank, you should not refer to the information contained in this website. If you are a professional and you reproduce any part of the information contained in this communication, to be used with or to advise retail clients, you must ensure it conforms to the Financial Conduct Authority's mortgage conduct of business rules. This site is intended for UK residents (who are intermediaries of the Bank) unless otherwise stated.
Clydesdale Bank PLC Registered in Scotland (Number SC001111). Registered Office: 177 Bothwell Street, Glasgow G2 7ER.
