Barclays has announced mortgage rate cuts along with the launch of some highly competitive and new products.
Craig Calder, director of Barclays Mortgages, said: “Christmas is almost upon us and we want to help households and landlords save money during this typically expensive time of the year with the launch of some of Barclays lowest residential remortgage rates.
“Homebuyers seeking a short to medium fixed rate term can choose a two or five-year fixed rate available with either a 75% or 80% LTV with no product fee, £250 cashback and free valuations on properties up to £2m. Landlords will also be able to reduce their monthly outgoings too with reductions to our buy-to-let range.
“In addition to these rate reductions, customers will achieve further savings by benefitting from free standard legal work for those choosing to remortgage.”
A summary of the full changes is detailed below.
| Product | LTV (%) | Old Rate | New Rate | Application Fee | Min Loan | Max Loan | ||||||
| 2 and 5 Year Fixed rates – Purchase Only with £250 Cashback
| ||||||||||||
| 2 year fixed | 75 | 2.39% | 1.89% | £0 | £50,000 | £250,000 | ||||||
| 5 year fixed | 75 | 2.99% | 2.49% | £0 | £50,000 | £250,000 | ||||||
| 2 year fixed | 80 | NEW | 1.95% | £0 | £50,000 | £250,000 | ||||||
| 5 year fixed | 80 | NEW | 2.69% | £0 | £50,000 | £250,000 | ||||||
| 5 and 7 Year Fixed Rates
| ||||||||||||
| 5 year fixed | 60 | 1.99% | 1.89% | £999 | £5,000 | £1,000,000 | ||||||
| 5 year fixed –Premier | 70 | NEW | 1.83% | £1,499 | £5,000 | £1,500,000 | ||||||
| 7 year fixed | 60 | NEW | 2.59% | £0 | £5,000 | £1,000,000 | ||||||
| 2 Year Fixed Rate – Buy-to-let Products
| ||||||||||||
| 2 year fixed | 65 | NEW | 2.59% | £0 | £35,000 | £1,000,000 | ||||||
| 2 year fixed – Purchase only | 75 | 3.59% | 2.89% | £0 | £35,000 | £750,000 | ||||||
| Buy To Let Rate – Switch Only
| ||||||||||||
| 2 year fixed | 65 | 2.79% | 2.58% | £0 | £5,000 | £1,000,000 | ||||||
| 2 year fixed | 75 | 2.99% | 2.88% | £0 | £5,000 | £1,000,000 | ||||||
| 2 year tracker | 75 | NEW | BBBR+2.63% (2.88%) | £0 | £5,000 | £1,000,000 | ||||||
| Buy To Let Tracker Rates
| ||||||||||||
| 2 year tracker | 75 | NEW | BBBR+2.64% (2.89%) | £0 | £35,000 | £750,000 | ||||||
| Rate Switch Only – Fixed Rates
| ||||||||||||
| 5 year fixed | 65 | 1.98% | 1.98% | £499 | £5,000 | £1,500,000 | ||||||
| 7 year fixed | 65 | NEW | 2.58% | £0 | £5,000 | £1,500,000 | ||||||
| 5 year fixed | 80 | 2.24% | 1.83% | £1,499 | £5,000 | £1,500,000 | ||||||
| Large Loan Rates
| ||||||||||||
| 5 year tracker | 75 | NEW | BBBR+1.49% (1.74%) | £2,999 | £750,000 | £2,000,000 | ||||||
