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Clydesdale announces rate changes: "The residential mortgage market is all over the place right now"

ended 18. March 2024

Clydesdale has just announced a number of rate changes, hiking selected residential fixed rates by up to 0.13% and lowering selected buy-to-let and interest-only rates by up to 0.3% (see screengrab below for changes). Newspage asked brokers for their views, bottom.

3 responses from the Newspage community

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Michelle Lawson
Director at Lawson Financial
The mixed bag of increases and reductions further highlights the uncertainty and volatility in the mortgage market at a time when people need stability. It's excellent to see a lender giving 24 hours' notice of changes, which at least means borrowers can be contacted and can make an informed rather than a rushed decision.
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Mark Robinson
Managing Director at Albion Forest Mortgages
The residential mortgage market is all over the place right now. Some lenders are making multiple increases in a week, and others are randomly dropping rates. At this stage it's almost anyone's guess what could happen next. Whilst the market is turbulent at the moment, the lowering of buy-to-let rates is a welcome change. Landlords appear to have seen far fewer rate decreases lately.
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Editor
Darryl Dhoffer
Founder at The Mortgage Geezer
Joining the interest rate-rising train is now Clydesdale Building Society. Though these are marginal increases, they will still compound borrowers' already high interest mortgage woes. Better news is a reduction to their buy-to-let rates, which are more significant and will be welcomed by landlords.