Barclays will launch a range aimed at first-time buyers and second movers, and cut selected existing residential products by as much as 50 basis points from tomorrow (4 October).
Highlights of its changes include:
New residential purchase products:
- Two-year premier fixes, with a £899 fee, at 90% loan to value, at 4.85% — minimum loan £5,000, maximum loan £570,000
- Five-year fixes, with no fee, at 60% LTV, 3.92% –minimum loan £5,000, maximum loan £2m
Residential rate reductions:
- Two-year premier fixes, with a £899 fee, at 60% LTV, down by 23bps to 3.96% — minimum loan £5,000, maximum loan £2m
- Five-year premier fixes, with a £999 product fee, at 90% LTV, down by 18bps to 4.42% — minimum loan £5,000, maximum loan £570,000
- Five-year mortgage guarantee fixes, with no fee, at 95% LTV, down by 30bps to 5.26% — minimum loan £25,000, maximum loan £570,000
Remortgage-only reductions:
- Two-year fixes, with a £999 fee, at 85% LTV, down by 50bps to 5.32% — — minimum loan £5,000, maximum loan £2m
- Five-year fixes, with a £999 product fee, at 85% LTV, down by 10bps to 4.93% — minimum loan £5,000, maximum loan £2m
