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Clydesdale and MHBS make rate reductions – round-up

  • 05/09/2023
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Clydesdale and MHBS make rate reductions – round-up
Clydesdale Bank has reduced rates across select mortgages.

The changes apply from tomorrow and include the five-year fixed exclusive remortgage at 80 per cent loan to value (LTV) which has gone down by 0.1 per cent to 5.59 per cent. This is available for loans between £200,000 and £1.5m. 

For its exclusive large loan offering, the two-year fixes at 65 and 75 per cent LTV will be reduced by 0.1 per cent to start from 5.98 per cent, as will the five-year fix at 65 per cent LTV which will be cut by the same margin to 5.39 per cent. 

These mortgages are available for loan sizes between £1m to £2m. 

For new and existing borrowers, Clydesdale has lowered the rates of two-year fixed professional mortgages by up to 0.1 per cent and five-year equivalents by up to 0.17 per cent. 

Rates on products now start from 6.25 per cent and 5.45 per cent respectively. 

The two-year fixed newly-qualified professional products at 85 to 95 per cent LTV have been cut by up to 0.2 per cent and now start at 6.6 per cent. 

The corresponding five-year fixed rates have been reduced by up to 0.1 per cent and start from 6.15 per cent. 

Additionally, select two-year fixed rates will be reduced by up to 0.2 per cent while select five-year fixed rates will be cut by up to 0.1 per cent. 


MHBS cuts rates  

Market Harborough Building Society (MHBS) has reduced its fixed rate mortgage pricing by up to 0.35 per cent LTV.  

The largest cuts apply to its two-year fixed rates while its three and five-year fixes have been reduced by 0.2 per cent.  

Its residential rates now start from 5.84 per cent for a variable deal and 6.04 per cent for a fixed deal at tier one, which includes joint borrower sole owner, second homes and simple annexe applications as standard.  

The lender offers loans between £200,000 and £3.5m for purchase and remortgage cases with complexities such as non-standard properties, multi-generation applicants and borrowers who do not meet standard criteria. 

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