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.”