Barclays has launched a new residential remortgage product, introducing a 2-year fixed rate at 5.31% for loans up to 85% loan-to-value (LTV) with a £1,495 fee.
In addition to the new product, Barclays has decreased rates on its existing residential mortgage offerings. The updated rates include a 2-year fixed rate at 4.98% up to 85% LTV with a £995 fee and a 2-year fixed rate at 5.03% up to 85% LTV with no fee.
For buy-to-let mortgages, Barclays has revised the 2-year fixed rate to 5.45% for loans up to 65% LTV, accompanied by a £1,995 fee.
Further reductions have been made on purchase-only residential products. These include a 2-year fixed rate at 4.67% with a £899 product fee for up to 60% LTV, which will decrease to 4.49%.
Additionally, a 2-year fixed rate at 4.68% with a £899 product fee for up to 60% LTV will decrease to 4.52%. Barclays has also lowered the rate for a 2-year fixed product at 4.88% with no fee for up to 60% LTV, now set to decrease to 4.71%.
For remortgage-only products, Barclays has reduced rates as follows: a 2-year fixed rate at 5.00% with a £999 product fee for up to 60% LTV will decrease to 4.67%, and a 2-year fixed rate at 5.01% with a £999 product fee for up to 60% LTV will decrease to 4.70%.
