Clydesdale Bank is set to reduce rates across several of its mortgage ranges from Wednesday 5 November, with cuts of up to 0.30%.

The reductions will apply to selected fixed rate products in the core residential range, including product transfers, as well as the bank’s large loan offering.

Professional and newly qualified professional products will see rate cuts of up to 0.20%, while selected purchase and remortgage exclusives will be reduced by up to 0.15%.

The move comes as competition continues to intensify in the residential mortgage market, with several lenders making rate reductions in recent weeks in response to lower swap rates and improving funding conditions.