Lender reduces rates on dozens of products, covering remortgage, purchase, and tracker deals
Barclays has cut rates across a broad range of residential and buy-to-let mortgage products, effective from today.
Two-year fixed remortgage deals with a £999 fee have been reduced at 60% loan-to-value (LTV) from 4.66% to 4.57%, at 75% LTV from 4.73% to 4.63%, and at 80% LTV from 5.11% to 4.93%. The Great Escape fee-free two-year fixes have been cut from 4.83% to 4.75% at 60% LTV, 4.99% to 4.85% at 75% LTV, and 5.36% to 5.16% at 80% LTV.
Three-year fixed remortgage products with a £999 fee have been reduced from 4.90% to 4.73% at 60% LTV and from 5.01% to 4.83% at 75% LTV; while five-year fixed remortgage rates with a £999 fee have fallen from 4.65% to 4.55% at 60% LTV, with the Premier equivalent moving from 4.62% to 4.52%.
Two-year fixed BTL purchase deals with an £899 fee have been cut from 5.05% to 4.80% at 60% LTV and from 5.15% to 4.92% at 75% LTV. Five-year fixed equivalents fall from 5.05% to 4.69% at 60% LTV and from 5.10% to 4.89% at 75% LTV.
Green Home BTL five-year fixed rates have dropped from 4.95% to 4.59% at 60% LTV and from 5.00% to 4.79% at 75% LTV.
The fee-free two-year fixed BTL remortgage at 75% LTV has fallen from 5.50% to 5.10%, while the £999-fee equivalent has moved from 5.05% to 4.88%. The fee-free five-year fixed at 75% LTV has been reduced from 5.27% to 4.97%.
Two products available for both purchase and remortgage with a £2,495 fee and a minimum loan of £1 million have been cut: the two-year fixed at 60% LTV from 5.05% to 4.80%, and the five-year fixed equivalent from 5.05% to 4.69%.
"The latest Barclays rates only went live five days ago and the bank was already pretty much offering the best deals along with Nationwide and HSBC," commented Aaron Strutt (pictured right), product director at mortgage broker Trinity Financial. "More of the lenders have improved their rates and hopefully this continues despite the ongoing political instability."
Meanwhile, Barclays has also introduced a 5.80% two-year offset tracker at 75% LTV with a £1,999 fee for loans between £2 million and £5 million, available across both the standard and EMC Reward residential remortgage ranges. A Premier two-year fixed at 4.54% with a £999 fee at 60% LTV has also been added.
One product has been withdrawn: the 5.08% EMC Reward Offset two-year tracker at 70% LTV.
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