Clydesdale Bank has added an 85 per cent loan to value (LTV) deal to its range alongside rate reductions for new customers and increases for existing borrowers.
A two-year fixed with a rate of 2.69 per cent and fees of either £999 for loans of over £500,000 or £1,499 for loans over £1m has been introduced for borrowers with a 15 per cent deposit. This mortgage will be available from 8 January.
Rate changes
Also from tomorrow, the rates of mortgages available to new customers will be cut by up to 15 basis points.
This includes a two-year fixed at 75 per cent LTV which has gone down from 1.89 per cent to 1.79, as well as a two-year fixed at 85 per cent which has been reduced from 3.11 per cent to 3.04 per cent.
Meanwhile, products for existing borrowers with low equity have increased by 40 basis points.
The two-year fixed at 90 per cent LTV with a £1,499 fee has gone up to 2.99 per cent and the £999 fee option has increased to 2.79 per cent.
The 85 per cent LTV mortgage for existing customers with either a £999 or £1,499 fee has risen from 2.29 per cent to 2.69 per cent.
The products with lower fees apply to borrowers requiring loans of £500,000 and over, while the higher fee products apply to those who require loans of £1m and above.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
