Clydesdale Bank has cut fixed-rate range of residential home loans by as much as 28 basis points.
The move follows reductions by Halifax, Barclays, Leeds Building Society and other major lenders two days before the Bank of England’s base rate decision.
Clydesdale’s changes cover:
- Selected two-year and five-year large loan and interest-only residential rates fall by up to 28bps
- Selected two-year and five-year fee and fee-offer residential product transfer rates fall by up to 18bps
- 75% and 80% loan to value two- and five-year residential remo exclusive rates fall by up to 10bps
- Selected two- and five-year residential large loan exclusive rates fall by up to 28%
- 65% residential product transfer exclusive rates fall by up to 16bps
- 65% LTV two- and five-year rates fall by up to 24bps
The Bank of England’s rate-setting Monetary Policy Committee is widely expected to cut the interest rate, currently at 4.75%, by 0.25% when it meets for the first time this year on Thursday.
