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Barclays cuts rates by up to 30 BPS

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Barclays is cutting rates on its residential and buy-to-let product ranges by up to 30 basis points.

Barclays is introducing a buy-to-let 2.29 per cent two-year fixed product at 75 per cent LTV with a 1 per cent fee, available for loans of £100k to £1m.

The lender is also bringing in a 3.39 per cent five-year fixed mortgage for the same fee, LTV and loan size.

The bank is also changing some of its existing residential and buy-to-let products.

The lender is cutting rates on its residential 2.05 per cent two year fixed 85 per cent LTV mortgage with a £999 fee by 8 basis points to 1.97 per cent.

Barclay’s 2.58 per cent two-year fixed product at 90 per cent LTV with a £999 fee will be reduced by 9 basis points to 2.49 per cent.

The lender is also cutting rates on its buy-to-let products.

Barclays’ 2.19 per cent two-year fixed 60 per cent LTV loan with a £1,999 fee will be reduced 20 basis points to 1.99 per cent.

The firm’s 2.54 per cent two-year fixed 75 per cent LTV product with a £1,999 fee will be cut 15 basis points to 2.39 per cent.

Barclay’s 2.15 per cent (1.65 per cent + BBBR) two-year tracker at 60 per cent LTV with a £1,499 fee is dropping 22 basis points per cent to 1.93 per cent (1.43 per cent + BBBR).

The bank’s 2.65 per cent (2.15 per cent + BBBR) two-year tracker at 60 per cent LTV with a £1,499 fee is being cut by 20 basis points to 2.45per cent (1.95 per cent + BBBR).

Meanwhile the lender’s 3.20 per cent five-year fixed, 60 per cent LTV, £1,999 fee mortgage is being cut by 11 basis points to 3.09 per cent.

The final buy-to-let product being cut is the firm’s  3.79 per cent five year fixed, 75 per cent LTV, £1,999 fee mortgage, which is being cut by 30 basis points to 3.49 per cent.

Barclays has extended the end date on all its fixed rate products by three months to 30 June, with the exception of its Help to Buy and new-build products, which will end at 30 September.

Barclays director of mortgages Craig Calder says: “With our latest buy-to-let rate reductions and new 1 per cent application fee on buy-to-let mortgages above £100,000, we are supporting more aspiring landlords to achieve their goals.”

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