Barclays is withdrawing a two-year fixed rate residential purchase and remortgage product from the market.

It says this is being done to effectively manage its application flow.

Specifically, the 85 per cent LTV two-year fix set at 2.10 per cent with £999 product fee will be removed.

The lender adds that brokers have until 7 October to submit an application for this product as long as they have a successful case booking.

In a note to brokers, Barclays says: “We recognise the importance of providing you with adequate notice ahead of changes, and crucially, an acceptable period to submit an application on a withdrawn product.”

Bookings for new cases will have to be secured today. Barclays warns, however, that it anticipates its daily booking limit being reached sooner than usua..“we anticipate that our daily booking limit will be reached earlier than normal today.”