Barclays Mortgages is introducing rate reductions across its residential and buy-to-let product ranges for customer purchasing and remortgaging properties, as well as deals for existing customers.
These changes will come into effect on Friday 9 July.
Residential mortgage products ranging from 60% LTV up to 95% LTV Mortgage Guarantee Scheme deals will see reductions of up to 27bps. These will be available for customers looking to both purchase a new property or remortgage an existing one.
While customers applying for a buy-to-let mortgage will see rate reductions of up to 20bps on some 60% LTV deals.
Key products impacted by this change include:
Purchase:
- 3.59% two-year fixed rate Mortgage Guarantee Scheme, £0 fee, 95% LTV – reduced to 3.49%
- 3.07% two-year fixed rate, £0 fee, 90% LTV – reduced to 2.80%
- 2.87% two-year fixed rate, £999 fee, 90% LTV– reduced to 2.60%
Remortgage:
- 1.98% five-year fixed rate buy-to-let, £1,795 fee, 75% LTV – reduced to 1.85%
- 1.41% five-year fixed rate, £999 fee, 75% LTV – reduced to 1.32%
- 1.45% five-year fixed rate Great Escape, £0 fee, 60% LTV – reduced to 1.34%
Existing Mortgage Customers:
- 0.99% two-year fixed rate, £1,250 fee, 60% LTV – reduced to 0.95%
- 1.29% three-year fixed rate, £999 fee, 60% LTV – reduced to 1.12%
- 1.17% five-year fixed rate, £999 fee, 60% LTV – reduced to 1.12%
