Barclays is revamping its mortgage range to give borrowers access to more competitive deals on its most popular two-, three- and five-year residential fixed products.
Highlights include a two-year fix at 1.44 per cent and a loan-to-value (LTV) of 65 per cent and application fee of £1,499.
For borrowers with smaller deposits, the lender has launched a few interesting offers at 90 per cent LTV. Highlights here are a 3.35 per cent two-year fix with £999 fee, a fee-free two-year mortgage with 3.73 per cent fixed rate and a 3.99 per cent product fixed for five years with £0 fee.
Barclays has also made a significant reduction to its Great Escape two-year fixed rate, cutting it by 0.54 percentage points to 2.35 per cent and increasing the LTV to 80 per cent (previously 75 per cent).
Andy Gray, managing director of mortgages for Barclays, said:
“We are anticipating demand for fixed rates to remain strong during the spring months, traditionally a period of increased house buying activity. As part of these new competitive rates, we have reduced the fixed rates on the 85 and 90 per cent LTV products which will enable first time buyers and those with smaller deposits to get on, and move up, the property ladder.”
The changes made to the whole portfolio (effective from 2 April) include:
|
Product |
LTV (%) |
Old Rate |
New Rate |
Application Fee |
Min Loan |
Max Loan |
| Fixed Rates | ||||||
|
2 year fixed |
65 |
1.59% |
1.44% |
£1,499 |
£200,000 |
£3,000,000 |
|
2 year fixed |
80 |
2.12% |
2.08% |
£999 |
£5,000 |
£1,000,000 |
|
2 year fixed |
85 |
2.54% |
2.37% |
£999 |
£5,000 |
£1,000,000 |
|
2 year fixed |
90 |
3.45% |
3.35% |
£999 |
£5,000 |
£500,000 |
|
2 year fixed |
90 |
3.89% |
3.73% |
£0 |
£5,000 |
£500,000 |
|
3 year fixed |
60 |
2.05% |
1.99% |
£999 |
£5,000 |
£1,000,000 |
|
3 year fixed |
70 |
2.34% |
2.29% |
£999 |
£5,000 |
£1,000,000 |
|
3 year fixed |
80 |
2.69% |
2.58% |
£999 |
£5,000 |
£1,000,000 |
|
5 year fixed |
60 |
2.94% |
2.75% |
£0 |
£5,000 |
£150,000 |
|
5 year fixed |
70 |
2.75% |
2.69% |
£999 |
£5,000 |
£1,000,000 |
|
5 year fixed |
75 |
2.88% |
2.83% |
£999 |
£5,000 |
£1,000,000 |
|
5 year fixed |
80 |
3.35% |
3.05% |
£999 |
£5,000 |
£1,000,000 |
|
5 year fixed |
80 |
3.25% |
3.15% |
£0 |
£5,000 |
£150,000 |
|
5 year fixed |
85 |
3.75% |
3.49% |
£0 |
£5,000 |
£1,000,000 |
|
5 year fixed |
90 |
4.05% |
3.99% |
£0 |
£5,000 |
£500,000 |
| Great Escape | ||||||
|
2 year fixed |
70 |
2.35% |
2.24% |
£0 |
£50,000 |
£1,000,000 |
|
2 year fixed |
80 |
2.89% |
2.35% |
£0 |
£50,000 |
£1,000,000 |
| Great Escape with free non disclosed valuation and £275 cashback | ||||||
|
2 year fixed |
60 |
2.35% |
2.24% |
£0 |
£50,000 |
£1,000,000 |
|
2 year fixed |
80 |
2.89% |
2.35% |
£0 |
£50,000 |
£1,000,000 |
| Rate Switch | ||||||
|
2 year fixed |
70 |
2.35% |
2.24% |
£0 |
£5,000 |
£1,000,000 |
|
2 year fixed |
80 |
2.89% |
2.35% |
£0 |
£5,000 |
£1,000,000 |
