Barclays has informed brokers that it will be reducing rates on a selection of products across its residential and buy-to-let new lending and Reward ranges.
Residential remortgage product changes include a 2-year fixed rate £999 product fee at 60% loan-to-value (LTV) reduced from 5.88% to 5.28%.
Additional products include a 2-year fixed rate with £999 product fee at 75% LTV reduced from 5.93% to 5.39%, as well as a 2-year Reward fixed with £999 product fee at 85% LTV reduced from 6.32% to 5.97%.
These changes and more will take effect from tomorrow, Friday the 29th of September.
Nicholas Mendes, mortgage technical manager at John Charcol, said: “Barclays are the latest lender to reprice this week.
“While it’s not going to break the 5% barrier as their counterparts have done, it is certainly a step in the right direction.
“The latest reductions are a fairly substantial drop with the next round of repricing from Barclays expected to put them back in the mix of the best buys.”
