Clydesdale Bank is set to implement a series of rate reductions across its residential and buy-to-let product ranges from Wednesday 18 June.

The rate cuts will apply to selected products across its core residential, exclusive, professional and buy-to-let offerings, with reductions of up to 0.25% in some cases.

Within the core residential range, which includes product transfers, selected 2 and -year fixed rates between 65% and 85% loan-to-value (LTV) will see reductions of up to 0.16%.

At the higher LTV tier, between 90% and 95%, the same product terms will be cut by as much as 0.20%.

For borrowers using exclusive products, the 95% LTV 2-year purchase exclusive rate will fall by up to 0.23%, while 85% LTV 2 and 5-year remortgage exclusive rates are to be reduced by up to 0.19%.

Existing customers on a 65% LTV 2-year product transfer exclusive will benefit from a smaller reduction of 0.05%.

The professional mortgage range is also seeing some of the largest cuts, with selected 2 and 5-year products for borrowers between 85% and 95% LTV — including those aimed at newly qualified professionals — being reduced by up to 0.25%.

In addition, Clydesdale will increase the maximum loan sizes available through its professional product suite, although precise details of those changes have not been disclosed.

In the buy-to-let space, 2-year fixed rates at 75% LTV will be reduced by 0.20%. The bank also confirmed it will open its 2-year fee offer rates to new customers, extending a pricing incentive previously reserved for existing clients.