Fixed rate deals and remortgage products see up to 0.10% increases
Barclays has increased rates on a broad selection of its residential and remortgage mortgage products, with the changes taking effect today, May 30.
The adjustments impact fixed rate deals across standard and green mortgages, as well as those under the UK government’s Mortgage Guarantee Scheme.
The updated pricing affects both Premier and standard customers. For residential purchase borrowers, two-year fixed deals at 60% loan-to-value (LTV) with a £899 fee rose by 0.10 percentage points — Premier rates moved from 3.86% to 3.96%, and standard products from 3.87% to 3.97%. No-fee equivalents at the same LTV climbed from 4.10% to 4.20%.
Rates at higher LTV bands also went up. At 75% LTV, two-year fixed rates increased from 3.94% to 4.04% for Premier customers and from 3.95% to 4.05% on standard terms. At 85% LTV, the same deals rose to 4.35% for products with a fee and to 4.55% for those without.
Five-year fixed rates followed the same trend. At 60% LTV, Premier deals with a £899 fee rose from 3.88% to 3.98%, and standard equivalents moved from 3.89% to 3.99%. At 75% LTV, rates climbed to as high as 4.30%, while 85% LTV products without a fee increased to 4.47%.
Green Home products were also subject to rate rises. Two-year no-fee deals at 60% LTV went from 4% to 4.10%, while five-year green mortgages at 85% LTV increased from 4.18% to 4.28%.
Under the Mortgage Guarantee Scheme, Barclays’ two-year fixed product at 95% LTV with no fee rose from 4.90% to 5.05%, while the five-year equivalent increased from 4.84% to 4.99%.
Remortgage customers faced similar increases. A two-year fixed Premier deal at 60% LTV went from 3.87% to 3.97%, with standard products matching the same rise. At 85% LTV, a two-year fixed rate with a £999 fee moved up to 5.19%.
The bank also adjusted its Great Escape remortgage range, which includes no-fee options. The 60% LTV rate rose from 4.18% to 4.33%, and the 75% LTV product increased from 4.62% to 4.72%.
Barclays made one exception amid the widespread hikes. Its 85% LTV two-year tracker with a £999 fee dropped slightly from 5.01% to 4.98%, available for both purchases and remortgages.
The lender’s move followed similar rate changes from Santander and Nationwide, suggesting a broader upward shift in mortgage pricing among major banks.
Earlier this month, Barclays eased its affordability testing, enabling some borrowers to access an extra £30,000 toward a home purchase.
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