Clydesdale cuts rates

Robyn Hall

July 21, 2011

The largest rate cut on the residential range will be on Clydesdale’s 5-year, 70% loan to value products. Rates will be reduced 0.30% from 4.29% to 3.99%.

The largest rate cut on Clydesdale’s buy-to let mortgages is on their 2-year, 70% LTV, fixed rate mortgage. A rate cut of 0.30% from 4.49% to 4.19%.

Mike Fitzgerald, sales director at Brentchase Financial Services, said: “We’ve seen rate cuts from lenders and on the back of reduced swap rates it seems as if banks feel as though interest rates will stay low for some time now.

“We’ll likely see a lot more rate cuts and lenders will be doing it just to keep business going through the doors trying to get the millions on their standard variable rates to change.”

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