Nationwide will lift selected fixed and tracker rates by up to 25 basis points tomorrow (13 February), while Clydesdale will cut residential prices by as much as 60bps.  

The mutual says its rate rises range across new business and existing customers moving home product products — as well as its switcher and additional borrowing offers.  

The lender tells brokers that “to take advantage of our switcher rates before they increase, you can cancel any existing switcher applications. Your cancellation request must be submitted by 5pm today.  

“For all other cases, existing products must be reserved by 8pm today”.  

Meanwhile, Clydesdale will launch exclusive deals and reduce home loan offers.  

Highlights of the bank’s changes include:  

Exclusive residential deals  

• New interest-only £1m to £2m 65% loan-to-value and 75% LTV two- and five-year fixes, launched from 4.18%.  
• Selected purchase and remortgage fixes will have minimum loan sizes reduced to £150,000  

New and existing residential customer products  

• Selected 95% loan to value two- and five-year fixes will be cut by up to 30bps  

Professional products  

• Selected professional and newly-qualified professional fixes will be reduced by up to 60%.  
• Selected professional fixes will have minimum loan sizes reduced to £100,000  

However, Clydesdale will also pull and lift the following offers at 8pm today:   

• Selected residential fixes will rise by up to 20bps  
• Selected professional and newly-qualified professional fixes will be withdrawn  
• Exclusive 65% LTV residential purchase fixes will be withdrawn