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Offset mortgage range launched

Tue, 10 Jan 2006

Clydesdale Bank has announced the launch of a new range of offset mortgage products.

Available via the mortgage lender's broker partners, Clydesdale Bank offers a highlight offset tracker mortgage for those earning more than £60,000 annually. The mortgage rate on this offset deal is 4.9 per cent.

Offsetting allows mortgage holders to offset their individual savings accounts and current account savings against their mortgage.

Other offset mortgage offers include a lifetime tracker mortgage that offers a mortgage rate of 4.94 per cent and a tracker offset mortgage that has a capped mortgage rate of 4.99 per cent.

A two-year fixed rate mortgage and three buy-to-let mortgage deals are also available from the mortgage lender.

Mortgage borrowers will receive these mortgage rates regardless of whether they opt for offsetting or not.

Offering base rate tracking and the choice of opting for offsetting indicates "flexible, competitive long-term good value", according to Dean Cutbill, general manager of Third Party Distribution.

The operations director of Moneyquest, Paul Reynolds, said that Clydesdale Bank "certainly produced very attractive products" and that he is interested to see what the mortgage lender has in store for 2006.

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