View more on these topics

Barclays to launch fee-free two-year fix at 1.85%

Barclays is set to launch a fee-free two-year fixed rate at 1.85 per cent.

The product will be available up to 60 per cent LTV and on loans between £5,000 and £1m.

Tomorrow, the lender will also reduced selected 70 and 75 per cent LTV five-year fixed rates. A 70 per cent LTV deal will be cut by 10 basis points to 2.59 per cent while a 75 per cent LTV deal will be cut 14 basis points to 2.69 per cent. Both products will have £999 fees and will be available on loans to £1m.

Barclays managing director of mortgages Andy Gray says: “We are giving homebuyers one of the best fee-free mortgages on the high street, the security of fixing their rate at a competitive 1.85 per cent and zero application fees.

“Our extremely competitive two- and five-year deals are significantly lower than the average market SVR rate of 4.4 per cent and will have strong appeal to those homeowners who have between 35-40 per cent equity in their property and are currently sitting on their lenders SVR to fix their monthly mortgage payments.”

Barclays is set to launch a three-year stepped fixed rate that reduces in rate over the lock-in period.

Borrowers will pay 3.09 per cent in the first year, followed by 2.99 per cent and 2.89 per cent in years two and three respectively. It will be available to 85 per cent LTV, will have a £999 fee and will be available on loans to £1m.

Gray adds: “Over the three-year term, the average rate of 2.99 per cent will help customers to save £268 (based on a £150,000 mortgage balance over a 25-year term) compared to an initial fixed term rate of 3.09 per cent.”


Analysis: After the election, things will take off

The spring sunshine reminds me we are about to enter a period that is traditionally busy for the property market. So it is full steam ahead as transactions grow and activity really kicks off. Or is it? While the latest figures we have for transaction levels are for January, HMRC revealed they hit 97,320 during […]


Lenders warned on TCF after FOS mortgage age ruling

Mortgage lenders could fall foul of treating customers fairly rules if they apply generic lending criteria following a Financial Ombudsman Service ruling against HSBC, experts warn. The FOS has upheld a complaint against the bank for unfairly rejecting a mortgage application on the grounds of age in the first case of its kind. A couple […]


Clydesdale fined £20.6m over PPI complaints

The FCA has fined Clydesdale Bank £20.6m over serious failings in the way it handled payment protection insurance complaints – the largest fine imposed to date for PPI-related failings. The FCA says in mid-2011 Clydesdale implemented inappropriate policies that meant its PPI complaint handlers were not taking into account all relevant documents when deciding how […]

Leader: Time to reassess criteria

Last week, the Financial Ombudsman Service arrived at a landmark ruling when it found HSBC had unfairly rejected a mortgage application on the grounds of age. A couple in their forties were turned down when they applied for a joint £250,000 interest-only loan over an 18-year term because Mr A, as he was referred to […]

Navigating volatility

The making of any fund can be seen in how it responds to crises and opportunities. In this short video, Head of Multi Asset at Royal London Asset Management Trevor Greetham outlines how the Royal London Global Multi Asset Portfolios or GMAPs navigated through Brexit and the US election cycle. He also highlights the importance […]


News and expert analysis straight to your inbox

Sign up