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Barclays launches new fixed-rate resi and BTL range

Home-House-Monopoly-Money-Property-700x450.jpgBarclays Mortgages is launching two new fixed-rate products, as well as cutting rates on a number of its residential and buy-to-let products.

The new products include a two-year fixed rate at 1.5 per cent and a five-year fix at 2.1 per cent.

Both are available up to 80 per cent LTV, and have a £999 product fee. They are available for both residential purchases and remortgages.

These new rates will be available from February 15.

At the same time Barclays is reducing rates on almost 20 existing fixed-rate products. These reductions range from 2bps to 13bps

The deals with the biggest  cuts include Barclays’ two-year fixed-rate deal for existing customers. This will now be priced at 1.49 per cent, up to 70 per cent LTV – a reduction of 13bps. This product has a £1999 product fee.

Barclays is also shaving 11bps off the fee-free version of this product. This will now be priced at 1.62 per cent (up to 60 per cent LTV), and 1.72 for LTVs up to 75 per cent.

In the buy-to-let range, Barclays has cut 10bsp points off its five-year fixed-rate product. The new rate will now be 2.69 per cent up to 75 per cent LTV. This product has a fee of £1950.

The same reduction has been applied to the fee-free option, which will now charge a rate of 3.09 per cent. Both are available for buy-to-let purchase or remortgage for loans between £35,000 and £1m.

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