Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Clydesdale Bank to Cease All New Mortgage Lending from 2 July

Clydesdale Bank will stop all new residential mortgage lending from 2 July 2026. Existing customers will continue to hold their Clydesdale mortgages and have access to switcher products.

The bank will withdraw its two variable rate mortgage products on 2 July, and no new products will be introduced. Fixed rate products, which were previously withdrawn, will not be reintroduced. This change means that no new lending will be available through Clydesdale for first-time buyers, homemovers, or remortgage customers.

Existing Clydesdale mortgage holders are not affected by this change and will still be able to access Clydesdale switcher products. New lending for first-time buyers, homemovers, and remortgage customers will instead be provided through Nationwide and Virgin Money.

Clydesdale Bank, which became part of CYBG after demerging from National Australia Bank in 2016, was later rebranded as Virgin Money. In 2024, Virgin Money was acquired by Nationwide, making Nationwide the second-largest provider of mortgages and savings in the UK. The acquisition was formally completed in April 2026.

This development is relevant for UK letting agents and inventory clerks monitoring lender activity and product availability in the residential mortgage market.