Barclays withdraws deals to manage demand - Mortgage Strategy

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Barclays has withdrawn a host of residential purchase and remortgage deals in a bid to manage service levels.

The lender wrote to brokers late on Friday afternoon to warn them of the changes, with the products pulled from sale later that evening. 

In its email to advisers, Barclays said: “As you’ll no-doubt be aware, the volume of interest and enquiries in the mortgage market have increased recently and we remain as committed as ever to supporting you and your clients with competitive products and consistent service during these busier times. 

“To deliver on this commitment, we continually review our product range to ensure we effectively manage application demand so as not to compromise the service we can provide you and your clients.”

The following residential purchase only products were withdrawn:

  • 1.09 per cent two-year fixed, £999 product fee, 60 per cent LTV
  • 1.36 per cent five-year fixed, £999 product fee, 60 per cent LTV 
  • 1.45 per cent two-year fixed, £299 product fee, 60 per cent LTV
  • 2.19 per cent two-year fixed, £0 product fee, 85 per cent LTV

For purchase and remortgage:

  • 1.24 per cent two-year tacker, £999 product fee, 60 per cent LTV
  • 1.28 per cent three-year fixed, £999 product fee, 60 per cent LTV

 For remortgage only:

  • 1.18 per cent two-year fixed, £999 product fee, 60 per cent LTV
  • 1.36 per cent five-year fixed, £999 product fee, 60 per cent LTV
  • 1.45 per cent two-year fixed, £299 product fee, 60 per cent LTV 
  • 2.05 per cent Great Escape two-year fixed, £0 product fee, 85 per cent LTV

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