Clydesdale Bank will cease all lending to new mortgage customers following the takeover of its parent Virgin Money by Nationwide Building Society.
It marks the final chapter for the 188 year-old banking brand, first founded in Glasgow in 1838.
In an email to brokers, Clydesdale says it will “no longer offer new mortgage loans” from next week.
Existing Clydesdale mortgage borrowers will still be offered switcher deals under the Clydesdale brand.
It says: “Clydesdale new business fixed rates were withdrawn earlier this year.
“Those deals will not be re-introduced, and the remaining Clydesdale variable rate products will be withdrawn at 8pm on Wednesday 1, July 2026.”
However, existing borrowers will still be offered “competitive product transfers” via intermediaries, it says.
It comes after Nationwide Building Society completed its takeover of Virgin Money in April this year.
Clydesdale and Yorkshire Banks were owned by National Australia Bank, but demerged to form CYBG in 2016.
CYBG then acquired Virgin Money Holdings in 2018 for £1.7bn.
A year later in 2019, CYBG began rebranding the whole business to Virgin Money.
In March 2024 Nationwide Building Society agreed a deal to purchase Virgin Money for £2.9bn.
Clydesdale Bank was originally founded in Glasgow’s Miller Street in 1838 by a collective of local businessmen who were described as “liberal radicals … active in the government and charities of the city”.
