Barclays is refreshing its mortgage range tomorrow (14 February).
Changes include a reduction of 0.11 percentage points on the two-year fixed rate at 80% LTV, from 3.59% to 3.48% and the launch of a new product, combining a tracker and fixed rate.
Barclays ‘Future Fix’ is available at up to 70% LTV with a five-year term and gives borrowers the benefit of a tracker rate for the first two years, taking advantage of predicted low base rates (base +2.99%), followed by the security of a fixed rate for the next three years at 4.29%. A £1,299 application fee applies.
Other changes include the extension from 60% to 70% LTV of the three-year fixed rate at 3.69% and five-year fixed at 4.29%. For borrowers who are borrowing more than £250,000, a new two-year fixed rate at 2.84% and a two-year offset at base plus 2.49% are also available.
On buy-to-let mortgages the application fee structure is changing for mortgages up to £500,000 the fee will be set at £1,999 and for mortgages over £500,000 the fee will be £3,999.
Andy Gray, head of mortgages at Barclays, said: “These changes reinforce our commitment to the mortgage market and to giving customers choice and value