Clydesdale Bank is making widespread reductions across its residential and buy-to-let mortgage ranges this Thursday, 21 August, with some fixed rates falling by as much as 0.51%.

The most significant cuts are to selected 2 and 5-year fixed rates within its core residential and product transfer ranges, with reductions of up to 0.51%. In addition, the bank is trimming 2-year discount offset rates by 0.10%.

Exclusives are also being repriced, including large loan purchase and remortgage options which will see cuts of up to 0.38%. Residential remortgage rates between 75% and 80% loan-to-value will be reduced by up to 0.24%, while selected 2 and 5-year purchase rates are coming down by as much as 0.19%.

A minor reduction of 0.05% will apply to the 5-year fixed product transfer option at 65% LTV.

For professional borrowers, 2-year fixed rates will be reduced by up to 0.38%, while newly qualified professionals will see a marginal 0.05% cut to their 2-year fixed products.

Selected buy-to-let products between 60% and 75% LTV are also being repriced downwards, with reductions of up to 0.35% on 2 and 5-year fixed rates.

However, not all products are being reduced. The core residential 90% LTV 5-year fixed rate will rise by 0.19%, bringing it to 4.58%. Brokers have been advised that applications for this product must be submitted by 8pm today to secure the current rate.