Barclays unveils new mortgage products

Bank also reduces interest rates on select offerings

Barclays unveils new mortgage products

Barclays has rolled out new mortgage products and revised rates on select offerings across its purchase and remortgage ranges.

The changes, effective today, February 4, include the introduction of fixed and tracker rate products, as well as rate reductions on key offerings.

The high street lender has launched several new products, including a two-year fixed rate at 5.29% with a £899 fee at 90% loan-to-value (LTV), and a two-year tracker at 5.24% with no product fee at 60% LTV.

Barclays – one of the UK’s largest mortgage lenders – has also expanded its Green Home mortgage range, offering a five-year fixed rate at 4.13% with a 60% LTV, and another five-year fixed rate at 4.26% at 75% LTV, both carrying a £899 product fee.

Several existing mortgage products have seen rate decreases. For homebuyers, the two-year fixed rate at 60% LTV will drop from 4.43% to 4.38%, while the five-year fixed rate at 75% LTV will decline from 4.42% to 4.36%.

For remortgage customers, Barclays has lowered the rate on its two-year fixed product at 75% LTV from 4.72% to 4.64%, while its five-year fixed rate at 85% LTV has been reduced from 5.27% to 5.23%.

The bank has also extended the end dates on all fixed rate products, for both new and existing customers, to June 30.

The full details of the latest mortgage product changes from Barclays can be found on this rate change overview.

These changes follow the recent launch of Barclays’ Mortgage Boost offering, which enables borrowers to increase their loan eligibility with financial support from family or friends.

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