Barclays makes widespread rate reductions

Ryan Bembridge

June 26, 2017

Barclays has slashed a significant number of rates across its residential and buy-to-let and ranges.

Highlights for owner occupiers include its 85% loan-to-value 2-year fix which has been cut by -0.46% to stand at 1.89%, while its 85% LTV 5-year fix now stands at 2.59% following a -0.30% reduction.

There were reductions across the spectrum ranging from major and minor, asthe lender’s 60% LTV 2-year fix which now stands at 1.19% (-0.04%) with a £999 fee and its 95% LTV 2-year fix costs 3.89% (-0.10%) with no fee.

Barclays unveils 0.30% proc fee for further advances

The lender’s buy-to-let mortgages saw small reductions, with its 60% LTV 2-year and 5-year fixes with a £1,950 fee standing at 1.59% and 2.29% after both being cut by -0.10%.

Barclays also altered its buy-to-let loan sizes – raising its maximum level to £2m on some 60% LTV deals, and reducing the size on other mortgages to £500,000.

Craig Calder, director of Barclays Mortgages, said: “The changes we are making will further strengthen our mortgage proposition by offering our comprehensive suite of buy-to-let and residential products to an even wider range of mortgage customers.”

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