Michael Lloyd

December 4, 2019

Barclays Mortgages is set to reduce rates across its residential and reward ranges.

Within the lender’s residential purchase range, a 2-year fix at 95% LTV will see its rate cut from 2.89% to 2.85% while a 5-year fix at 60% LTV will have its rate reduced from 1.73% to 1.69%.

Both have no product fee.

The 2-year fix has a maximum loan of £500,000 whilst the 5-year fix has a maximum of £1m.

Within the same purchase range Barclays will cut rates on its Help to Buy mortgages and Green Home Help to Buy mortgage.

Each of these mortgages are available at 75% LTV and have a minimum loan of £25,000 and maximum of £450,000.

The Green Home Help to Buy mortgage is a 5-year fix which will see its rate drop from 1.76% to 1.74% while a 5-year Help to Buy deal will have its rate decreased from 1.81% to 1.74%.

Both offerings come with a £749 product fee.

Meanwhile the other Help to Buy 5-year fixed has no product fee and will have its rate cut from 1.98% to 1.95%.

For remortgages, two Great Escape products which have no product fees and a maximum loan amount of £1m, will see their rates cut.

The 5-year fix at 60% LTV will decrease from 1.89% to 1.86% whilst the 5-year fix at 75% will see its rate drop from 1.97% to 1.93%.

In addition, for buy-to-let purchases and remortgages, the 2-year fix at 60% LTV with no product fee and a £1m maximum loan amount, will see its rate reduce from 2.21% to 2.18%.

Barclays has also fully introduced the digital (e-sign) mortgage deed for remortgage applications across its entire panel of solicitors.

The rate changes will come into effect on Thursday 5 December.

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