Clydesdale and Foundation raise rates as others withdraw deals – Mortgage Strategy
Clydesdale and Foundation have announced rate increases, while Precise and Newcastle are withdrawing products ahead of a reprice.
Tomorrow’s changes from Clydesdale are to residential product transfer deals.
The lender is raising two and five-year fixed rates in its core range by up to 23 basis points.
Clydesdale is also withdrawing a number of two and five year fixes at 90% LTV for product transfer
Foundation has raised rates on both buy-to-let and residential products, as well as withdrawing some deals, with effect today.
For buy-to-let borrowers, selected F1, houses in multiple occupation (HMO) and multi-unit freehold block (MUFB) specials at 80% loan-to-value have risen by up to 20bps.
Also for buy-to-let, there have been increases of up to 15bps on core F1, F2 and F3 products.
Residential rates have climbed by up to 10bps on selected F1 deals.
Precise is withdrawing some of its regulated bridging products at 5pm today, from its standard, light refurbishment and heavy refurbishment ranges.
New products with higher rates will launch tomorrow, but developer exit and non-regulated bridging products will remain unchanged.
Newcastle Building Society is withdrawing scores of products at 5pm today and has not yet revealed what will replace them.
