Clydesdale Bank is set to implement a series of rate reductions across its residential mortgage range, with selected products falling by as much as 0.26%, effective from Friday 11 July.

Among the core residential range, rates on selected 2 and 5 year fixed products for loans between 65% and 95% LTV will be reduced by up to 0.20%. These changes also apply to product transfer customers.

The bank’s exclusive offerings will also see cuts. Two-year purchase exclusives at 90% to 95% LTV will be lowered by up to 0.14%, while the 80% LTV two-year remortgage exclusive is to drop by up to 0.08%.

Existing customers opting for a 65% LTV two-year exclusive product transfer will benefit from a 0.18% reduction, and large loan exclusives between 65% and 80% LTV on 2 and 5 year terms will see reductions of up to 0.18%.

PROFESSIONALS

Clydesdale is also targeting the professional segment, with rate reductions of up to 0.26% on selected 2 and 5 year products for both newly qualified and established professionals borrowing between 80% and 95% LTV.

In addition, the 2 year 80% discount offset product will be reduced by 0.25%.

As part of this update, all revised products will have end dates extended to 31 October of the relevant year.

Alongside these cuts, Clydesdale will launch new fee offer products from 11 July. A five-year fee offer range for buy-to-let applications will open to new business, with rates starting from 4.99%.

The lender will also introduce new 75% and 80% LTV two-year fee offer exclusives for purchase and remortgage customers, starting from 4.58%.