Barclays, Santander and Skipton for Intermediaries cut prices Mortgage Finance Gazette

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Barclays has made cuts by up to 30 basis points on its five-year fixed range.

The bank has reduced its five-year fixed rate with a product fee of £899 at 60% loan-to-value (LTV) from 3.98% to 3.82%.

It has also trimmed the price of its five-year fixed with no fee at 60% LTV from 4.09% to 3.92% and has lowered the five-year fixed with a product fee of £899 at 85% LTV from 4.12% to 4.03%.

These products all have a minimum loan of £5,000 and a maximum loan of £2m.

In addition, Barclays has reduced the five-year fixed with a product fee of £899 at 90% LTV from 4.44% to 4.27%.

And the five-year fixed fee free at 90% LTV has been lowered from 4.65% to 4.35%.

Both of these have a minimum loan of £5,000 and a maximum loan of £640k.

Last week, Barclays announced it is increasing its maximum loan-to-income (LTI) to six times income.

Meanwhile, Santander has announced rate decreases, with rates now starting from 3.55%.

For home movers, all 60% to 95% LTV two-year fixed rates will be cut by as much as 0.14% to start from 3.55% while all 60% to 95% LTV three-year fixed rates will be trimmed by up to 0.29% to start from 3.60%.

In addition, all 60% to 95% LTV five-year fixed rates have been lowered by up to 0.09% with prices now starting from 3.76%.

Santander remortgage fixed rates have also been lowered. All 60% to 90% LTV two-year fixed rates have been reduced by as much as 0.14%, with rates starting from 3.62% while all 60% to 75% LTV three-year fixed rates have been cut by up to 0.12% to start from 3.80%.

All 60% to 90% LTV five-year fixed rates have been lowered by up to 0.11% with rates starting from 3.80%.

BTL and first-time buyers rates have also been cut.

Elsewhere, Skipton for Intermediaries has announced rate reductions.

The lender has cut prices on its residential fixed rate purchase and remortgage ranges.

Rates have also been trimmed on its new build products.

Skipton for Intermediaries has also made selected rate decreases on its residential two-year fixed rate products for existing customers.