Following the decision by the Monetary Policy Committee on 22 June 2023 to increase the Bank of England Base Rate to 5.00%, we’re making some changes.
On 3 August 2023, we will increase the following Clydesdale Bank variable rates:
What happens with cases at application or offer stage
All Variable Rate Discounted Offset products will see an increase to the interest rates from 3 August 2023 in line with the updated Variable Rate. All new revert-to-rates will be live from 3 August 2023 and customers will be contacted to let them know their new rate and monthly payment on completion of the loan.
What happens with existing customers
Customers who are affected by these changes will be contacted to let them know their new rate and monthly payment will become effective from their next payment following 3 August 2023
If you’ve got any questions, you can get in touch with your Business Development Manager.
If you are not an intermediary of the Bank, you should not refer to the information contained in this website. If you are a professional and you reproduce any part of the information contained in this communication, to be used with or to advise retail clients, you must ensure it conforms to the Financial Conduct Authority's mortgage conduct of business rules. This site is intended for UK residents (who are intermediaries of the Bank) unless otherwise stated.
Clydesdale Bank PLC Registered in Scotland (Number SC001111). Registered Office: 177 Bothwell Street, Glasgow G2 7ER.
