Barclays to cut rates

Michael Lloyd

February 18, 2019

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.

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