Clydesdale Bank will raise selected residential and buy-to-let rates for new and existing customers by up to 66 basis points today (3 July) and launches new professional loans tomorrow (4 July).   

While Halifax lifted remortgage rates over the weekend.  

Clydesdale says the following rate rises take effect from 8pm today:  

New and existing customer products  

• Full capital and interest fixed-rate deals will lift by up to 60bps 
• Interest-only fixed-rate offers will increase by up to 66bps 
• £1m-plus fixed-rate products will also lift by up to 66bps 
• Professional 85 to 95% loan-to-value fixed-rate deals will rise by up to 55bps 
• BTL 60 to 75% LTV fixed-rate offers will lift by up to 50bps 
• BTL 80% LTV fixed-rate products will fall by 11bps 

 Exclusives  

• £1m to £2m fixed-rate loans will increase by up to 43bps, starting from 5.40%. 
• Remortgage fixed-rate offers, with £500 cashback, will rise by up to 50bps, starting from 5.48% 

 The bank warns brokers that applications for these products should be sent to it “as soon as possible”, adding that end dates will move to October of the relevant year.  

Clydesdale adds that from tomorrow it will offer two new professional home loan products.  

A professional 75% LTV two-year fixed-rate deal, starting from 6.25% and a professional 75% LTV five-year fixed-rate offer, starting from 5.60%.  

Halifax   

Meanwhile, Halifax lifted selected remortgage rates that include large loans, affordable housing – shared equity products on Saturday.  

A spokesperson for the lender says the move comes after a rise in swap rates following the Bank of England hiking the base rate by 50 basis points to 5% last month, its 13th rate rise in a row since December 2021, taking it to the highest level in a decade and a half.     

The high street lender says the changes include:  

• A two-year fixed-rate remortgage loan, with no fee, starts at 5.89% at 60% LTV  
• A two-year fixed-rate remortgage offer, with a £999 fee, starts at 5.58 at 60% LTV    
• A 10-year fixed-rate remortgage at 60% LTV, with no fee, begins at 5.5%   
• A 10-year fixed-rate remortgage at 60% LTV, with a £999 fee, starts at 5.43%    

Halifax says its complete-by dates have also been extended by one month on fixed-rate and tracker remortgage products.