Clydesdale launches suite of products to intermediary market

Amanda Jarvis

January 6, 2006

The new products are as follows:

* Residential Professionals Offset Lifetime tracker – 4.90%
* Residential Offset tracker until 31/03/08 – 4.79%
* Residential Offset Lifetime tracker – 4.94%
* Residential Offset Capped tracker – 4.99%. Capped at 4.99% until 31/03/08
* 2 Year Residential Fixed until 31/03/08 – 4.95%
* 2 Year BTL (buy to let) Fixed until 31/03/08 – 5.35%
* 5 Year BTL Fixed until 31/03/11 – 5.35%
* Offset BTL Lifetime tracker – 5.29%

All the term products revert to base rate tracker rates rather than standard variable ones. Customers are not obliged to arrange an offset mortgage to take advantage of these rates – they can have a standalone mortgage product without linked accounts if they wish.

Commenting on the launch of the new products, Dean Cutbill, general manager of Third Party Distribution, said: “Offering base rate tracking and the choice of either taking offset or not is an indication of the flexible, competitive long term good value our new product line-up promises our partners' clients.”

The arrangement fee for the residential products and offset Buy To Let Lifetime tracker is £449. The arrangement fee for the BTL Fixed rates is £499. All products are available for purchase and remortgage without any difference in the interest rate.

Dean Cutbill added: “Last year saw us making significant inroads in to the intermediary market and this new suite of products underlines our commitment to maintain our momentum in 2006.”

This was given a double boost at the end of last year with awards from both Hamptons and Moneyquest.

Moneyquest's operations director, Paul Reynolds, said: “Clydesdale certainly produced very attractive products that we were happy to recommend to many of our clients in 2005. It will be interesting to see what developments they have up their sleeves for us in 2006.”

Intermediary queries concerning Clydesdale new products should be made to 0845 609 0490. Clydesdale Bank is owned by the National Australia Bank Group and is the lead brand being used by the Group to enter the UK mortgage intermediary market.

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