Barclays will reduce a wide range of residential and buy-to-let mortgage rates from Wednesday, with selected products falling by up to 0.30%.
Barclays is reducing mortgage rates across a broad range of residential and buy-to-let products, with the new pricing taking effect from Wednesday 24th June.
The changes cover remortgage, purchase and existing customer products, alongside the launch of two new residential mortgage products, including a Premier 2-year fixed rate at 4.54% and a 2-year offset tracker for larger loans.
Within the residential remortgage range, selected 2-year, 3-year and 5-year fixed rates have been reduced, with the largest cut seeing the Great Escape 2-year fixed rate at 80% loan-to-value (LTV) fall from 5.36% to 5.16%. Barclays’ 5-year Premier fixed rate at 60% LTV has also been reduced from 4.62% to 4.52%, while its standard 5-year equivalent falls from 4.65% to 4.55%.
Buy-to-let borrowers will also benefit from lower pricing across purchase and remortgage products. Purchase-only 5-year fixed rates at 60% LTV with an £899 fee have been reduced from 5.05% to 4.69%, while the equivalent Green Home product falls further to 4.59%. Remortgage-only buy-to-let rates have also been cut, with the 2-year fixed rate at 60% LTV with a £999 fee reduced from 4.95% to 4.67%.
Barclays has also reduced rates across its Existing Mortgage Customer (EMC) Reward range, including residential and buy-to-let products. Residential EMC Reward 5-year fixed rates at 60% LTV now start from 4.52%, while buy-to-let EMC Reward 5-year fixed rates at 65% LTV with a £999 fee have been reduced to 4.65%.
Alongside the rate reductions, Barclays has introduced a new 2-year offset tracker mortgage for residential remortgage customers borrowing between £2m and £5m at 75% LTV, priced at 5.80% with a £1,999 product fee, as well as a new Premier 2-year fixed rate at 4.54% for residential remortgage customers at 60% LTV.