Barclays adds new BTL product and cuts rates

Barclays has announced a new buy-to-let mortgage product and a series of rate reductions.

The new product is a 75 per cent LTV five-year fix at 2.19 per cent. This offering is for purchase only, has a £1,295 fee and a maximum loan value of £1m.

Notable products which have seen rate reductions include the 85 per cent LTV five-year fix from 2.05 per cent to 1.99 per cent. This offering is for purchase or remortgage, has a £999 fee and a maximum loan value of £1m.

In addition, the 75 per cent LTV five-year fix has been sliced from 1.97 per cent to 1.80 per cent. This product is within the lender’s green home Help to Buy range, has a £749 fee and a maximum loan value of £450,000.

The 75 per cent LTV five-year fix has also been reduced, form 2.24 per cent to 2.19 per cent. This product is within the lender’s EMC reward BTL range and has a £1,795 fee.

Barclays director of mortgages Craig Calder says: “The reduced rates we are introducing are in response to current demand.

“These changes will ensure we continue to provide home buyers with a wide range of competitive options, particularly for those who are looking for the extra comfort and certainty that a five-year fixed offers.”

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Barclays trims mortgage rates

Barclays is making modest reductions to the cost of its residential and buy-to-let mortgage ranges.  The biggest reductions are on its buy-to-let products. Its two-year fixed-rate buy-to-let loan (at 60 per cent LTV) will see rates cut from 2.28 per cent to 2.21 per cent. This product has no upfront fee and is available to […]

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