Clydesdale Bank will make cuts to five two-year and five-year residential mortgages on Thursday (27 May).

The biggest reduction is in its two-year fixed-rate product at 85% loan to value for the newly qualified professional, which comes down from 2.96% to 2.85%.

The other changes are:

A two-year fixed-rate at 85% LTV, with a £999 fee, reduced from 2.54% to 2.48%.

Its five-year fixed-rate at 85% LTV, with a £999 fee, comes down from 2.75% to 2.72%.

A two-year fixed-rate at 85% LTV fee offer, reduced from 2.81% to 2.78%.

And a two-year fixed-rate at 85% LTV professional product, reduced from 2.76% to 2.65%.

Last month, the lender launched a new product for first-time buyers available exclusively through mortgage intermediaries.

The two-year fix comes at 2.89 per cent, comes with a free valuation and includes a £1,999 fee.

It added that the new 90% deal is not available for flats, maisonettes or new builds.