THE PROPERTY FILTER TAKE
Rely cut fixed mortgage rates by up to 0.54%, while Clydesdale raised BTL product transfer rates by up to 0.63%, both effective from 14 April 2026 (Mortgage Strategy).
From a portfolio perspective, cuts from Rely help new acquisition finance; Clydesdale's 0.63% BTL product transfer rise hits investors rolling off a fix onto an existing deal.
Consider running your expiring Clydesdale fixes through a free BTL stress test calculator before deciding whether to switch lender or accept the new rate.
Interest rate movements do not just change your monthly payment. They reshape your entire refinance strategy. Three lenders moved in April 2026 - and they did not all move the same way.
Rely Cuts, Clydesdale Hikes
Rely, part of OneSavings Bank, confirmed rate reductions across its full range - including its limited edition products, according to Mortgage Strategy (13 April 2026). Its one-year fixed rate fell to 3.68% (down 0.54%), the two-year fixed to 3.80% (also down 0.54%), and the five-year fixed to 4.73% (down 0.49%).
From a portfolio perspective, that 0.54% cut is material. On a £200,000 BTL (buy-to-let) mortgage, it saves over £1,000 a year in interest. Across five properties, you are looking at a real shift in cash flow. The shorter fixes are the more interesting play if you hold the view that rates may ease further over the next 24 months. Explore more on your options in our negotiation and finance hub.
Clydesdale moved the other way. The bank announced selected rate increases from 14 April 2026 (Mortgage Strategy). Core residential product transfer rates rose by up to 0.28% on selected two and five-year fixed products. Core BTL product transfer rates rose by up to 0.63% on the same terms. Anyone applying for one of these products needed to submit by 8pm on 13 April. Clydesdale will also move end dates to 31 July of the relevant year.
Leeds BS: Cuts for BTL Companies, Rises for Residential
Leeds Building Society's changes apply to new lending applications only (Mortgage Strategy, 13 April 2026). The picture is split. Selected residential fixed rates increased. At the same time, selected limited company BTL fixed rates were reduced by up to 0.23%. Selected affordable housing fixed rates were reduced by up to 0.35%. Residential and interest only end dates were extended to July.
The direction matters. Leeds is softening on limited company BTL and tightening on standard residential. If you hold properties through a limited company - common at portfolio scale for tax efficiency - this is worth factoring into your next acquisition or refinance. Any applications on withdrawn products needed to be submitted by midnight on 13 April.
Three lenders, three different directions. Your property investment strategies hub has more on matching ownership structure to financing options. And if you want to stress-test numbers before your next move, use our free BTL stress test calculator.
Key takeaways
Rely cut fixed rates by up to 0.54%, including a one-year fixed now at 3.68% (Mortgage Strategy).
Clydesdale raised BTL product transfer rates by up to 0.63% from 14 April 2026 (Mortgage Strategy).
You may wish to check whether your expiring fixes sit with a lender cutting or raising before committing to a product transfer.
Interest rate movements do not just change your monthly payment. They reshape your entire refinance strategy. Three lenders moved in April 2026 - and they did not all move the same way.
Rely Cuts, Clydesdale Hikes
Rely, part of OneSavings Bank, confirmed rate reductions across its full range - including its limited edition products, according to Mortgage Strategy (13 April 2026). Its one-year fixed rate fell to 3.68% (down 0.54%), the two-year fixed to 3.80% (also down 0.54%), and the five-year fixed to 4.73% (down 0.49%).
From a portfolio perspective, that 0.54% cut is material. On a £200,000 BTL (buy-to-let) mortgage, it saves over £1,000 a year in interest. Across five properties, you are looking at a real shift in cash flow. The shorter fixes are the more interesting play if you hold the view that rates may ease further over the next 24 months. Explore more on your options in our negotiation and finance hub.
Clydesdale moved the other way. The bank announced selected rate increases from 14 April 2026 (Mortgage Strategy). Core residential product transfer rates rose by up to 0.28% on selected two and five-year fixed products. Core BTL product transfer rates rose by up to 0.63% on the same terms. Anyone applying for one of these products needed to submit by 8pm on 13 April. Clydesdale will also move end dates to 31 July of the relevant year.
Leeds BS: Cuts for BTL Companies, Rises for Residential
Leeds Building Society's changes apply to new lending applications only (Mortgage Strategy, 13 April 2026). The picture is split. Selected residential fixed rates increased. At the same time, selected limited company BTL fixed rates were reduced by up to 0.23%. Selected affordable housing fixed rates were reduced by up to 0.35%. Residential and interest only end dates were extended to July.
The direction matters. Leeds is softening on limited company BTL and tightening on standard residential. If you hold properties through a limited company - common at portfolio scale for tax efficiency - this is worth factoring into your next acquisition or refinance. Any applications on withdrawn products needed to be submitted by midnight on 13 April.
Three lenders, three different directions. Your property investment strategies hub has more on matching ownership structure to financing options. And if you want to stress-test numbers before your next move, use our free BTL stress test calculator.
Key takeaways
Rely cut fixed rates by up to 0.54%, including a one-year fixed now at 3.68% (Mortgage Strategy).
Clydesdale raised BTL product transfer rates by up to 0.63% from 14 April 2026 (Mortgage Strategy).
You may wish to check whether your expiring fixes sit with a lender cutting or raising before committing to a product transfer.
