Barclays has made rate reductions across several mortgage products within its residential purchase and reward ranges, starting from tomorrow, Tuesday 28th November.
These changes are particularly significant for products related to purchases and remortgages in the £2m to £10m range, with some rates being reduced by as much as 0.57%.
Clients seeking higher loan-to-value (LTV) mortgages, specifically in the 85% to 95% LTV bracket, will also benefit from these reductions.
For instance, the 2-year Green Home fixed mortgage with no product fee at 90% LTV, offering loans from £5,000 to £570,000, will see its rate drop from 5.98% to 5.68%.
Similarly, the rate for the 2-year fixed mortgage with no product fee at the same LTV, and with the same loan limits, will decrease from 6.08% to 5.78%.
Furthermore, the 2-year Mortgage Guarantee Scheme fixed mortgage with no product fee at 95% LTV, with loan amounts ranging from £25,000 to £570,000, will undergo a reduction from 6.70% to 6.30%.
The existing product lineup will also experience rate decreases. Notably, a 2-year fixed mortgage at 85% LTV with a £0 product fee, offering loans from £5,000 up to £2 million, will have its rate lowered from 5.79% to 5.77%.
Additionally, a selection of 2-year and 5-year fixed-rate mortgages, both for purchase and remortgage and across various LTVs, will also see rate reductions.
The changes extend to Barclays’ Existing Customer Reward Range, where several products are set to have reduced rates.
These adjustments include a decrease in rates for 1-year and 2-year fixed EMC Reward mortgages at 90% LTV, as well as for 2-year and 5-year fixed EMC Reward mortgages at 70% LTV, among others.
