Clydesdale, Yorkshire introduce rates from 2.99%

Discounted variable rate deals get extra competition

Clydesdale Bank and Yorkshire Bank (separate trade names, but same operation) are releasing discounted variable rate mortgages that start as low as 2.99%, provided you have a 40% deposit or equity share.

The 2.99 % figure is a discount of 1.60% from the banks' Standard Variable Rates. If your deposit isn't that juicy (and most of ours aren't), you'd have to settle for starting on 3.49% (up to 75% LTV) or try out the 80% LTV offset mortgage starting on 4.49%.

These aren't bad deals.  They won't snatch the sub-2% headlines from HSBC and Woolwich, but unlike those deals, you might be able to actually get this one for a reasonable fee (£995).  The fees and interest rates sit in good company with competitors, although HSBC and First Direct might have slightly lower rates for similar offers.