Barclays set to cut rates

The lender will cut rates across its residential range.

Barclays set to cut rates

Barclays Mortgages is set to reduce rates across its residential and reward ranges.

Within the lender’s residential purchase range, a 2-year fix at 95% LTV will see its rate cut from 2.89% to 2.85% while a 5-year fix at 60% LTV will have its rate reduced from 1.73% to 1.69%.

Both have no product fee.

The 2-year fix has a maximum loan of £500,000 whilst the 5-year fix has a maximum of £1m.

Within the same purchase range Barclays will cut rates on its Help to Buy mortgages and Green Home Help to Buy mortgage.

Each of these mortgages are available at 75% LTV and have a minimum loan of £25,000 and maximum of £450,000.

The Green Home Help to Buy mortgage is a 5-year fix which will see its rate drop from 1.76% to 1.74% while a 5-year Help to Buy deal will have its rate decreased from 1.81% to 1.74%.

Both offerings come with a £749 product fee.

Meanwhile theother Help to Buy 5-year fixed has no product fee and will have its rate cut from 1.98% to 1.95%.

For remortgages, two Great Escape products which have no product fees and a maximum loan amount of £1m, will see their rates cut.

The 5-year fix at 60% LTV will decrease from 1.89% to 1.86% whilst the 5-year fix at 75% will see its rate drop from 1.97% to 1.93%.

In addition, for buy-to-let purchases and remortgages, the 2-year fix at 60% LTV with no product fee and a £1m maximum loan amount, will see its rate reduce from 2.21% to 2.18%.

Barclays has also fully introduced the digital (e-sign) mortgage deed for remortgage applications across its entire panel of solicitors.

The rate changes will come into effect on Thursday 5 December.

 

LATEST NEWS