Clydesdale Bank Mortgage Rates Are Still On The Decline
Homebuyers and homeowners looking to secure a new mortgage deal could benefit from fresh cuts to Halifax and Clydesdale mortgage rates. Both lenders have announced reductions across a range of mortgage products, making borrowing slightly more affordable in an ever competitive market. In this article I will run through the changes from Clydesdale Bank and Halifax, and what these could mean for mortgage borrowers.
Clydesdale Mortgage Rates Lowered
Clydesdale Bank has introduced rate reductions across its mortgage range, with the new rates coming into effect from the end of this week. The bank has lowered rates on both core mortgage products and exclusive deals, making some borrowing options more attractive.
For its core range, which includes product transfers, two- and five-year fixed residential mortgages at 65% and 75% LTV will see cuts of up to 0.1%. Exclusive deals have also been adjusted, with two- and five-year fixed remortgage rates at 75% LTV reduced by around 0.05%. Large loan exclusive deals at 65% and 75% LTV will see similar reductions of about 0.1%, while exclusive product transfer rates at 65% LTV will drop by around 0.05%.
In response to changes in the base rate, Clydesdale has also lowered its variable rates. A notable cut includes its two-year discount offset rate at 80% LTV, which will drop by 0.25%.
Halifax Mortgage Rate Cuts
Halifax is also set to trim rates on selected fixed mortgage deals, with changes taking effect from today (21st of February 2025). The reductions, around 0.2% in most cases, will apply to products for home movers, first-time buyers, and those looking to remortgage.
For home movers and first-time buyers, a two-year fixed deal at 90-95% loan-to-value (LTV) will drop by 0.2% to 5.29%, with a £999 fee. Meanwhile, a five-year fixed mortgage at 90% LTV will fall by 0.19% to 4.91%, also with a £999 fee.
Remortgagers aren’t being left out either. Selected fixed-rate remortgage products will be cut by up to 0.15%. Notably, a one-and-a-half-year fixed deal at 90% LTV will decrease by 0.15%, bringing the rate down to 5.08%. This product carries a £1,499 fee.
What This Means for Borrowers
With both Halifax and Clydesdale trimming their rates, borrowers may find slightly more competitive options when securing a mortgage. While the reductions may not be dramatic, they could still provide savings, particularly for those looking to lock in a deal amid ongoing market fluctuations.
If you’re considering a new mortgage or a remortgage, it’s always a good idea to compare deals and speak to a mortgage advisor to find the best option for your circumstances. Give our friendly team of mortgage advisors at Oportfolio Mortgages a call today to chat through your options and to see how we can help you.
