Barclays is set to launch a 5-year fixed residential mortgage at 80% loan-to-value (LTV).
The product, available for purchases and remortgages, has a rate of 1.98% and comes with a £999 product fee. There’s a minimum loan of £5,000 and maximum loan of £1m.
Barclays will also be reducing rates across its residential, buy-to-let and reward ranges.
The lender will reduce rates on two 5-year fixed mortgages for purchases and remortgages. At 60% LTV the 1.78% rate will be cut to 1.74% and at 75% LTV the 1.83% rate will decrease to 1.79%. Both have a maximum loan value of £1m and come with a £999 product fee.
Within its EMC reward range, the 2.19% 5-year fixed at 75% LTV will be cut to 2.14%. This mortgage doesn’t have a product fee.
Meanwhile the 2.05% 5-year fixed, which comes with a £999 product fee, at 85% LTV, will be reduced to 1.98%.
For buy-to-let purchases only the 2-year fixed rate at 75% LTV will decrease to 1.65%. This comes with a £1,295 product fee.
In addition, for purchases and remortagges the 2-year fixed at 1.65% LTV will also be cut from 1.68% to 1.65%. This comes with a £1,795 product fee.
Within its EMB reward buy-to-let range the 1.68% 2-year fixed product at 75% LTV, which also comes with a £1,795 fee, will be cut to 1.65%.