Barclays cuts high LTV rates
Help to Buy 2 products to 95% LTV include a 2-year fix of 4.49% and a 5-year fix of 4.99% following rate cuts of 0.70% and 0.50%.
Andy Gray, managing director of mortgages for Barclays, said: “We kicked off 2015 with the launch the UK’s lowest ever 10-year fixed rate at 2.99%.
“Building upon this, our 14th straight rate reduction provides an opportunity to demonstrate our commitment to giving first-time buyers and those with smaller deposits access to market leading mortgage rates.”
The bank has cut other 2-year fixes to 3.39% at 90% LTV, 2.63% at 85% LTV, 2.19% at 80% LTV and 1.88% at 75% LTV, all with a £999 fee.
It has also launched three products without an application fee, which are an 80% LTV 2-year fix at 2.29%, an 80% LTV 5-year fix at 3.25% and a 90% LTV 2-year fix at 3.89%.
For current account holders the lender’s loyalty mortgages now stand at 2.19% to 80% LTV, 2.63% to 85% LTV and 3.39% to 90% LTV, all with a £499 fee.
For customers looking to remortgage from a different deal or a different lender the Barclays’ 85% LTV 2-year fix ‘rate switch’ and ‘great escape’ products have been reduced to 3.19% from 3.49%.