From tomorrow Barclays will be reducing rates across its residential and reward products.
For the residential range there’s two products, both at 95% LTV, no product fees, a minimum loan of £5,000 and maximum of £400,000. One is a 2-year fix that will be reduced from 2.86% to 2.77% and the other a 5-year fix to be cut from 3.35% to 3.31%.
There’s also a 5-year fix at 95% LTV without a product fee that will be reduced from 3.65% to 3.59%. It comes with a £1,000 cashback and is available from £50,000 to £400,000.
For purchases and remortgages there’s two products that have seen rate reductions, both at 90% LTV with a £999 product fee, a minimum loan of £5,000 and maximum of £400,000. There’s a 2-year fix that will be cut from 1.94% to 1.79% and 3-year fix to be cut from 2.17% to 2.09%.
For purchases at 95% LTV, with the same minimum and maximum loan sizes, and no product fee, there’s a 2-year fix to be reduced from 2.86% to 2.77% and a 5-year fix that will be cut from 3.35% to 3.31%.
Furthermore, for purchases using Help to Buy at 75% LTV without a product fee and a minimum loan of £25,000 and maximum of £450,000, the 1.94% 2-year fix will be cut to 1.88% and 2.18% 5-year fix to 2.13%.
For remortgaging the 2.23% great escape 5-year fix at 75% LTV will be reduced to 2.19%. There’s no product fee, has a minimum loan size of £50,000 and maximum of £1m.