Barclays has introduced a series of mortgage rate changes, with decreases across a variety of its products, including buy-to-let (BTL), remortgages, and residential mortgages.
These changes affect both new and existing customers, offering more competitive rates.
In its BTL range, specifically for purchase-only products, Barclays is lowering rates on several options.
The 2-year fixed rate, with a £1,295 product fee, 75% loan-to-value (LTV), and a minimum loan of £35,000 and maximum of £1m, will decrease from 5.68% to 5.28%.
Similarly, the 5-year fixed rate, under the same terms, will drop from 4.72% to 4.32%.
Green Home BTL mortgages will also see reductions, with the 2-year fixed rate falling from 5.58% to 5.18%, and the 5-year fixed rate decreasing from 4.62% to 4.22%.
For remortgages, Barclays has introduced significant rate reductions, with the 2-year fixed rate, with no product fee at 60% LTV seeing its its rate reduced from 5.80% to 5.40%.
For those opting for a higher product fee of £1,795 and a 75% LTV, the 2-year fixed rate will drop from 5.76% to 5.36%.
The 5-year fixed rate remortgage option with no product fee and a 60% LTV will fall from 4.83% to 4.52%, while a higher LTV of 75% and a £1,795 product fee will result in a rate decrease from 4.60% to 4.26%.
Additionally, the 5-year fixed rate with no product fee at 75% LTV will be lowered from 4.88% to 4.69%.
For both purchase and remortgage products, Barclays is also implementing reductions.
The 2-year fixed rate with a £2,495 product fee and 60% LTV will decrease from 5.80% to 5.40%.
The 5-year fixed rate under the same conditions will fall from 5.40% to 5.00%.
Portfolio mortgage customers with a 2-year fixed rate at 75% LTV and a £2,495 product fee will see their rate decrease from 5.70% to 5.36%.
For high-value residential purchase and remortgage customers, Barclays is lowering rates across various LTV tiers.
For example, the 2-year fixed rate with a £1,999 product fee, 60% LTV, and loan amounts ranging from £2 million to £10 million, will drop from 5.06% to 4.40%.
Similarly, the 5-year fixed rate for the same LTV and loan amounts will decrease from 4.47% to 3.93%.
Rates for 70% and 75% LTV options will also experience reductions.
For existing customers under the Existing Customer Reward Range, Barclays is offering competitive reductions in its BTL range.
For example, the 5-year fixed rate at 65% LTV with a £1,795 product fee will be reduced from 4.34% to 4.20%.
Additionally, the 2-year tracker at 65% LTV with a £1,795 product fee will see its rate fall from 6.34% to 5.94%.
Further decreases are applied across other fixed and tracker rates, including options with 75% LTV and over.
Residential customers in the Existing Customer Reward Range will also benefit from reduced rates.
The 2-year fixed rate with a £1,999 product fee and 70% LTV will decrease from 4.66% to 4.40%, while the 5-year fixed rate under the same conditions will drop from 4.32% to 3.93%.
Similarly, rate switch options are being reduced, with the 2-year fixed rate falling from 4.86% to 4.55% for loans above 70% LTV.
