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Barclays relaunching 75% LTV B2L through brokers tomorrow

Barclays is relaunching its 75% LTV buy-to-let deals through brokers tomorrow and introducing a new 10-year fixed rate on its residential range.

Last week the lender launched its B2L 75% deals through its direct channel, but from tomorrow it will re-introduce its products via brokers as well.

It is offering a two-year fixed rate up to 75% LTV at 5.29% and a two-year tracker up to 75% LTV at base +3.99%.

It says it has listened to feedback around the fees and the products available through its direct and broker channel and will now provide a tiered fee approach:

  • For deals between £50,000 and £125,000 the fee will be £1,999
  • Between £125,000 and £250,000 the fee will be £2,999
  • Over £250,000 the existing £3,999 fee will remain

At the same time it is introducing a 10-year fixed rate at 70% LTV with a rate of 4.99% and cutting its three-year fixed rate at 90% LTV to 5.99%.

Andy Gray, head of mortgages for Barclays says: “Today’s mortgage changes are about boosting the availability of buy-to-let and providing competitive longer term deals in the residential mortgage market with the launch of a 10 year deal to support borrowers who are worried about the long term base rate outlook.”

The lender is also adjusting some of its other price points to manage demand across its product mixes. It says this is set against a backdrop of a series of economic indices surrounding the continued global and Eurozone uncertainty which have influenced funding across the market.

The two-year fixed rate at 70% LTV which includes its Great Escape mortgage is increasing by 0.25% from 3.49% to 3.74% and all its tracker and offset mortgages will increase by up to 0.21%.

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  • Bobby 25th January 2012 at 9:01 am

    Woolwich are an absolute joke. They do not even exist as a lender anymore as far as I am concerned and would never recommemend them to a client and I know lots of other brokers that feel the same. We just don’t believe a word they say anymore. Without a doubt the worse lender in the market. AVOID at all costs.

  • Will Reid 25th January 2012 at 8:46 am

    Your headline says 85% – Ooops! Guess they may have had service problems with that 😉