Rates of selected products will be lower starting tomorrow
Barclays has announced further rate reductions on selected products across its residential and buy-to-let new lending and reward ranges.
Effective from tomorrow, September 29, the lender’s two-year fixed residential remortgage rate at 60% loan-to-value (LTV) will be cut by 60 basis points (bps) from 5.88% to 5.28%, while the 75% LTV option will be reduced from 5.93% to 5.39%.
The high street lender’s two-year reward fixed rate at 85% LTV will get a 35bps rate reduction from 6.32% to 5.97%.
The abovementioned deals come with a £999 product fee, with a minimum loan size of £5,000 and maximum loan size of £2 million.
Barclays also made rate cuts earlier this month, but the marginal reductions had some brokers thinking that lenders were waiting for the month’s inflation data before cutting rates more aggressively. The latest reprice from the high street lender could be seen as that more aggressive move.
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