Following the decision by the Monetary Policy Committee to increase the Bank of England Base Rate on 23 March 2023 and 11 May 2023, we’ve made some changes. On 6 June 2023, we increased our Standard Variable Rate to 8.74%, our Offset Variable Rate to 8.95% and our Offset Variable Investment Housing Loan Rate to 9.24%.
What happens with cases at application or offer stage
All Variable Rate Discounted Offset products will see an increase to the interest rates from 6 June 2023 in line with the updated Variable Rate. All new revert-to-rates will be live from 6 June 2023.
What happens with existing customers
Customers who are impacted by this rate change will be contacted to let them know of any changes to their mortgage.
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.
