Clydesdale Bank will suspend all lending to new mortgage customers following the takeover of parent company Virgin Money by Nationwide Building Society.
It marks the final chapter for the 188-year-old banking brand, first founded in Glasgow in 1838.
In an email to brokers, Clydesdale said it “will no longer be offering new mortgage loans” from next week.
Existing Clydesdale mortgage providers will continue to be offered switching agreements under the Clydesdale brand.
It says: “Fixed rates for new contracts in Clydesdale were withdrawn earlier this year.
“These deals will not be reintroduced, and Clydesdale’s remaining variable rate products will be withdrawn at 8pm on Wednesday 1 July 2026.”
However, existing borrowers will still be offered “competitive product transfers” through intermediaries and directly.
It comes after Nationwide Building Society completed its acquisition of Virgin Money in April this year.
Clydesdale and Yorkshire Banks were owned by National Australia Bank, but split into CYBG in 2016.
CYBG then acquired Virgin Money Holdings for £1.7 billion in 2018.
A year later, in 2019, CYBG began renaming the entire company to Virgin Money.
In March 2024, Nationwide Building Society agreed a deal to buy Virgin Money for £2.9 billion.
Clydesdale Bank was originally founded in Glasgow’s Miller Street in 1838 by a collective of local businessmen who were described as “liberal radicals…active in the city’s government and charities”.