Clydesdale Bank has made rate cuts to its product transfer range for existing customers.
Now, its two-year fixed product transfers begin at 4.4 per cent with a £499 fee and 4.6 per cent with no fee.
The five-year fixes have rates beginning from 4.02 per cent with a £499 fee or 4.17 per cent for a fee-free option.
Richard Walker, head of intermediary sales at Virgin Money said: “We’re pleased to announce that we’ve made reductions to our Clydesdale Bank retention rates which are available to existing customers.
“Our products provide customers with a great opportunity to secure a new fixed rate.”
This follows the lender increasing its variable revert rate which would be paid by any borrowers coming off a fixed rate without refinancing. This rose from 7.74 per cent to 8.24 per cent, with respect to the increase of the Bank of England’s base rate in February.
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
