The changes will see declines of up to 40 bps on selected products, including both purchase and remortgage options
Barclays has announced rate cuts across its range of residential and BTL mortgage products, effective from tomorrow.
The changes will see declines of up to 40 bps on selected products, including both purchase and remortgage options.
For BTL purchase products, the high street lender is cutting its two-year fixed rate at 75% LTV with a £1,295 product fee from 5.68% to 5.28%, and its five-year fixed rate from 4.72% to 4.32%. The bank’s Green Home BTL products will also see cuts, with the two-year fixed rate declining to 5.18% and the five-year fixed rate decreasing to 4.22%, both at 75% loan-to-value with a £1,295 product fee.
Remortgage rates are also being reduced. The two-year fixed rate at 60% loan-to-value with no product fee will decline from 5.80% to 5.40%, while the five-year fixed rate at the same loan-to-value will decrease from 4.83% to 4.52%. The two-year fixed rate at 75% loan-to-value with a £1,795 product fee will decline from 5.76% to 5.36%, and the five-year fixed rate will go from 4.60% to 4.26%.
In the residential range, Barclays will lower its two-year fixed rate at 60% LTV with a £1,999 product fee from 5.06% to 4.40%, and the five-year fixed rate will move from 4.47% to 3.93%. Similar cuts are being made to higher LTV and larger loan products, with adjustments across both purchase and remortgage options.
The lender’s existing customer reward range is also seeing rate cuts. The five-year fixed rate for BTL customers with a £1,795 product fee and 65% LTV will drop from 4.34% to 4.20%. Additionally, residential rate switch options will see declines, with the two-year fixed rate for loans over 70% LTV decreasing to 4.55% from 4.86%.
