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Clydesdale and Leeds BS reduces rates – round-up

  • 03/11/2023
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Clydesdale and Leeds BS reduces rates – round-up
Clydesdale Bank has lowered select rates in its exclusive large loan and new and existing product ranges and added new exclusive deals.

On the exclusive purchase side, the lender has added a two-year fixed rate at 75 per cent loan to value (LTV) deal at 5.28 per cent.

The firm has also brought out a two and five-year fixed rate at 85 per cent LTV at 5.56 per cent and 5.02 per cent respectively.

These deals are available for loan sizes between £300,000 and £600,000.

Clydesdale has added exclusive professional purchase deals, including a two and five-year fixed rate deal at 75 per cent LTV at 5.61 per cent and 5.09 per cent apiece.

These products are available between £150,000 and £1m.

Within its exclusive large loan range, its two and five-year fixed rate at 65 per cent LTV has fallen by 0.13 per cent and 0.24 per cent to 5.4 per cent and 4.95 per cent respectively.

The lender’s two and five-year fixed rate at 75 per cent LTV have been cut by 0.25 per cent and 0.22 per cent to 5.5 per cent and 5.04 per cent respectively.

Loans available range from £1m to £2m.

In its new and existing customer product range, selected two-year fixed rates have been reduced by up to 0.26 per cent.

Selected five-year fixed rates have decreased by up to 0.22 per cent and selected professional and newly qualified professional fixed rates reduced by up to 0.18 per cent.


Leeds BS cuts rates

Leeds Building Society has improved its rates at 75 and 80 per cent LTV following the decision by the Bank of England to hold the base rate at 5.25 per cent.

This includes its two-year fixed rate hero mortgage product at 75 per cent LTV with £999 fee which now stands at 5.23 per cent.

Its two-year fixed rate at 80 per cent LTV is 5.6 per cent with a £999 fee.

Sean Hanson, senior mortgage manager at Leeds Building Society, said: “The Bank of England’s decision yesterday to hold interest rates will come as good news for homeowners and those looking to step onto the property ladder.

“Despite rates staying flat, we are pleased to be able to make further rate reductions to support first-time buyers and borrowers who are coming towards the end of their current mortgage term.”

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