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 a maximum loan of £1m.
Similarly, its two year fix at 60 per cent LTV (with a £1,795 fee) has seen its rate cut from 1.47 per cent to 1.42 per cent. Both these loans are available for purchase or remortgage.
Cuts on its five-year buy-to-let loan has been far smaller with most products reducing by just 0.01 or 0.03 per cent.
Across its residential range, Barclays have cut rates its two-year products by around 0.04 per cent. For example its two-year fix with a £299 fee (at 60 per cent LTV) will now cost 1.55 per cent, down from 1.59 per cent.
The bank has also cut the cost of its five year fix (with £999 fee). At 75 per cent LTV this deal now costs 1.83 per cent, as opposed to 1.88 per cent.
The bank is also cutting costs on its competitive “Premier” range although again by far smaller margins.
All rate cuts will be effective from Thursday July 4th.