Finance News

Barclays announce new products and rate changes

Warren Lewis
|
10th September 2019
Barclays

Barclays has announced a large number of changes across its Residential and Reward ranges in addition to new products which the lender says it will launch tomorrow.

According to Barclays, these changes include:

- Reducing rates by as much as 0.10 per cent on selected 85 per cent and 90 per cent LTV core range 2 and 5 year fixed rates
- Introducing two new highly competitive 75 per cent and 85 per cent LTV Great Escape 3 year fixed rates
- Reducing rates by as much as 0.40 per cent on selected 2 and 5 year fixed rates within our £1m+ large loan range

In addition, Barclays have confirmed that they are also making reductions to products within their Help to Buy and existing customer Reward range as well as introducing new Premier exclusive rates.

Key Product change highlights:

Available for Residential Purchase and Remortgage

- Reduced - 2 year fixed with a £999 product fee available for loans £5,000 - £1,000,000 max. 85 per cent LTV, reduced from 1.57per cent to 1.54 per cent
- Reduced - 2 year fixed with a £999 product fee available for loans £5,000 - £375,000 max. 90 per cent LTV, reduced from 1.87 per cent to 1.77 per cent
- Reduced - 5 year fixed with a £2,499 product fee available for loans £1,000,000 - £5,000,000 max. 75 per cent LTV, reduced from 2.29 per cent to 1.89 per cent

The lender will also launch several new products tomorrow:

Purchase and Remortgage

- 2.28 per cent 5 Year Fixed Premier, £499 product fee, 90 per cent LTV, Min loan £5,000, Max loan £375,000

Purchase

- 2.40 per cent 5 Year Fixed Premier £250 cashback, £0 product fee, 90 per cent LTV, Min loan £5,000, Max loan £375,000

Remortgage

- 2.40 per cent 5 Year Fixed Premier, £0 product fee, 90 per cent LTV, Min loan £5,000, Max loan £375,000
- 2.05 per cent Great Escape™ 3 Year Fixed, £0 product fee, 75 per cent LTV, Min loan £50,000, Max loan £1,000,000
- 2.24 per cent Great Escape™ 3 Year Fixed, £0 product fee, 85 per cent LTV, Min loan £50,000, Max loan £1,000,000

Craig Calder, Director of Mortgages, Barclays said: “We constantly review market conditions to ensure our range of fixed rates are competitive as possible. We want to help more hard-working first-time buyers get on the property ladder sooner, as well as those choosing to remortgage, to keep their mortgage costs low. Over recent weeks, we have seen several consecutive reductions in the funding market which has enabled us to respond and pass on rate reductions directly to our customers.”

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