"Now that the Government has begun easing lockdown restrictions on valuations, we’re able to provide more competitive options and choice"
Barclays and the West Brom have both resumed residential lending up to 85% LTV.
Barclays is relaunching a range of fee-free two and five-year fixed rates up to 85% LTV. In addition, it is reducing rates by up to 0.11% on two of its existing 85% LTV fee-free fixed rates.
Available from tomorrow for residential purchase and remortgage, two-year fixed rates start from 2.05% and five-year fixes from 2.15%, both available up to 85% LTV with no product fees.
The West Brom is launching a total of 30 new deals up to 85% LTV from tomorrow.
Highlights include a two-year fixed rate at 2.04% and a five-year fix at 2.14%, both available up to 85% LTV with £300 cashback.
All products in the new purchase range include free valuations and carry no completion or booking fees.
In addition, the West Brom has restarted physical valuations for both pipeline and new business applications where it is safe to do so. For remortgages below 75% LTV, an AVM will be continued to be used where the property fits the qualifying criteria.
Richard Scott, the West Brom’s head of intermediaries, said: “Now that the Government has begun easing lockdown restrictions on valuations, we’re able to provide more competitive options and choice to help our intermediary partners find the best deals for their clients. We have increased our operational capacity and have the right support in place to deliver the highest level of service and progress increased new business volume, as well as deliver our current pipeline.
“Following the launch of the 30 new products, we have plans to further extend our portfolio next week, strengthening our offering in the market.”