Barclays is launching a new range of fee-free mortgage deals for customers looking for a new home or a new buy-to-let arrangement.
The new products, available from 11 June, are offering customers a variety of options. There are two- and five-year fixed-rate and tracker purchase only residential mortgages, as well as two- and five-year fixed-rate buy-to-let products.
The loan-to-value options range from 60 to 95 per cent.
The range includes:
- Two year fee-free options are available at 60 per cent, 75 per cent, 80 per cent, 85 per cent and 90 per cent LTV tiers.
- Five year fee-free options are obtainable at the LTV tiers of 60 per cent, 75 per cent and 80 per.
- Two year tracker rates at 75 per cent and 80 per cent.
- Help To Buy2 two year fixed at a reduced rate of 4.25 per cent at 95 per cent LTV
All mortgages in the fee-free range have no application or product fees on property purchases up to £1m – with exception of the two-year fixed rate at 90 per cent LTV which has a maximum of £500,000, and the Help To Buy2 scheme which has a maximum £570,000 limit.
Barclays has also extended the fee-free offering to its Buy To Let range for its 2 and 5 year fixed rates at 3.69 per cent and 4.49 per cent, both at 75 per cent LTV.
Andy Gray, managing director of mortgages for Barclays, said:
“We are giving new homeowners, and those to take their next step on the property ladder, a range of extremely competitive fee-free rates.
“The buy-to-let mortgage market has continued to grow over recent years and is fiercely competitive. We expect the new fee free two- and five-year buy-to-let rates to be warmly welcomed by landlords as we help to save them money, making an investment even more affordable.”
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| Product | LTV (%) | Old Rate | New Rate | Application Fee | Min Loan | Max Loan |
| Purchase only | ||||||
| 2 year fixed | 60 | NEW | 1.85% | £0 | £5,000 | £1,000,000 |
| 2 year fixed | 75 | NEW | 2.25% | £0 | £5,000 | £1,000,000 |
| 2 year fixed | 80 | NEW | 2.29% | £0 | £5,000 | £1,000,000 |
| 2 year fixed | 85 | NEW | 2.65% | £0 | £5,000 | £1,000,000 |
| 2 year fixed | 90 | NEW | 3.65% | £0 | £5,000 | £500,000 |
| 5 year fixed | 60 | NEW | 2.65% | £0 | £5,000 | £1,000,000 |
| 5 year fixed | 75 | NEW | 2.85% | £0 | £5,000 | £1,000,000 |
| 5 year fixed | 80 | NEW | 3.13% | £0 | £5,000 | £1,000,000 |
| 2 year tracker | 75 | NEW | 1.79% | £0 | £5,000 | £1,000,000 |
| 2 year tracker | 80 | NEW | 2.25% | £0 | £5,000 | £1,000,000 |
| Help To Buy | ||||||
| HTB2 2 year fixed | 95 | 4.49% | 4.25% | £0 | £50,000 | £570,000 |
| Fixed Rates – Re-Mortgage only | ||||||
| 2 year fixed | 60 | NEW | 1.88% | £0 | £5,000 | £1,000,000 |
| Fixed Rates – Purchase or Re-Mortgage | ||||||
| 2 year fixed | 85 | 2.37% | 2.33% | £999 | £5,000 | £1,000,000 |
| Tracker Rates | ||||||
| 2 year | 90 | NEW | 3.15% | £999 | £5,000 | £500,000 |
| Buy To Let | ||||||
| 2 year fixed | 75 | NEW | 3.69% | £0 | £35,000 | £1,000,000 |
| 5 year fixed | 75 | NEW | 4.49% | £0 | £35,000 | £1,000,000 |
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