The launch of a two-year capped offset
mortgage has been announced by Clydesdale Bank.
The
mortgage rate will track the Bank of England's
base rate by 0.39 per cent. At the end of the two-year period, the mortgage rate will be set at 0.75 per cent above the base rate.
An offset tracker mortgage, traditional tracker mortgage and two-year fixed rate mortgage complete the mortgage lender's range.
An arrangement fee of £449 is charged on all
mortgages on offer by the
mortgage lender, but no completion fee applies, Mortgage Introducer reports.
The new mortgages are "extremely attractive", says the general manager of Third Party Distribution, Dean Cutbill. He adds that customers who would like to
find a mortgage or
find a remortgage will find these mortgages appealing.
Mortgage broker partners of Clydesdale Bank are said to be "particularly excited" about the two-year capped offset mortgage. Mr Cutbill concludes.
Last week it was announced that the bank will close 11 fulltime branches and 21 part-time branches by the end of March next year.
