Clydesdale and Yorkshire Banks have introduced new two and five year fixed rates.

They are offering a rate of 2.49% on a two year fixed mortgage with 60% LTV or 2.99% on a five year fixed mortgage at the same loan to value.

Existing customers can also take advantage of Clydesdale and Yorkshire Banks’ no arrangement fee mortgage offer. The Banks are waiving arrangement fees for all of their existing customers looking to take a new mortgage or switch mortgages before 11th May 2013.

This represents a saving of up to £999 – the current re-mortgage arrangement fee.

The £999 mortgage arrangement fee will also be waived for new customers who are moving their mortgage and who open an account with Clydesdale and Yorkshire Banks. Those moving their mortgage from another lender will benefit from £500 off the arrangement fee.

In addition, those customers won’t have to pay any legal or valuation fees if they use Clydesdale and Yorkshire Banks’ appointed solicitors and valuers.

Andrew Pearce, retail director for Clydesdale and Yorkshire Banks, said: “Many people are now opting for fixed rate mortgages so they will know exactly how much their mortgage payments will be on a monthly basis.

“We remain focused on offering a range of competitive products that meet the differing needs of our customers.”