Clydesdale Bank has announced reductions on its core residential, exclusives, professional products and buy-to-let (BTL) products of up to 0.71%, effective 11 October.
The lender’s BTL selected two- and five-year fixed rates will be reduced by up to 0.71%.
Meanwhile, core residential selected two- and five-year fixed rates will be reduced by up to 0.25% and will start from 3.89%.
Professional selected two- and five-year fixed rates will be lowered by as much as 0.25%.
For Clydesdale’s exclusive range, selected exclusive purchase two- and five-year fixed rates will be reduced by up to 0.15%, starting from 4.09%. These products will come with a free valuation for properties valued up to £3m.
In the same range, selected large loan two- and five-year fixed rates will be reduced by up to 0.23%.
Earlier today, Barclays and Vida also announced rate cuts.
This comes after Coventry for intermediaries, Co-operative bank for intermediaries, Molo and LiveMore all said they will either withdraw products or raise rates by the end of the week amid uncertainty over whether the Bank of England will push through two rate cuts this year as unrest in the Middle East threatens to lift oil prices and push up inflation.
