New Clydesdale Bank mortgage deals announced

Date:Friday 27th March 2009
Author: Susanna Kavka

Clydesdale Bank has announced reductions in the interest rates it charges on a number of mortgage products.

The lender revealed its two-year fixed-rate product for customers seeking up to a 60 per cent loan-to-value (LTV) mortgage is now being charged at 3.79 per cent, representing a fall of 0.2 per cent from the previous level.

In addition, its five-year fixed-rate product with a LTV maximum of 80 per cent has been reduced by the same amount from 4.99 per cent to 4.79 per cent.

Meanwhile, the rate on its two-year fixed-rate product for LTVs of up to 80 per cent has gone down from 4.49 per cent to 3.99 per cent.

Retail director at Clydesdale Bank Steve Reid stated: "At Clydesdale Bank we are focused on providing innovative and competitive products and this latest cut in our mortgage rates underlines that commitment."

Recently, Woolwich announced that it is offering new mortgages at rates reduced by up to 0.5 per cent.