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Clydesdale Bank ups rates

  • 24/02/2022
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Clydesdale Bank ups rates
Clydesdale Bank announced higher interest rates on certain loans and urged any brokers who were applying for one of its products on behalf of a customer to do so as soon as possible.

The changes include increases of up to 0.27 per cent across selected 75 per cent loan to value (LTV) two and five-year fixed rates and rises of as much as 0.19 per cent across two and five-year fixes at 80 per cent LTV.

Selected two and five-year fixed mortgages at 90 per cent LTV will increase by as much as 0.15 per cent.

The increases came weeks after the Bank of England (BoE) rose its base interest rate to 0.5 per cent, its second increase in three months.

The BoE said it acted out of concern that higher energy costs would lead to a surge in inflation above seven per cent by April. Results of the bank’s next Monetary Policy Committee meeting were scheduled to be announced on 17 March.

A spokesperson for Clydesdale Bank said: “Like all lenders we constantly keep rates under review and these changes reflect the wider environment.”

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