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Barclays early Christmas gift to homebuyers and homemovers

Key Highlights

  • 2 Year Fixed 75 per cent LTV reduced by 0.50bps to 1.89 per cent on a maximum loan £250,000
  • 5 Year Fixed 75 per cent LTV reduced by 0.50bps to 2.49 per cent on a maximum loan £250,000
  • 2 Year Fixed 80 per cent LTV new rate of 1.95 per cent on a maximum loan of £250,000
  • 5 Year Fixed 80 per cent LTV new rate of 2.69 per cent on a maximum loan of £250,000
  • 5 Year Fixed 60 per cent LTV reduced by 0.10bps to 1.89 per cent on a maximum loan £1m
  • 5 Year Fixed 80 per cent LTV reduced by 0.41bps to 1.83 per cent on a maximum loan £1.5m (Rate Switch & Further Advances only)

With Christmas just weeks away, Barclays has today announced some significant mortgage rate cuts along with the launch of some highly competitive new products designed to save customers money on their monthly mortgage payments.

Craig Calder, Director of Barclays Mortgages said: “Christmas is almost upon us and we want to help households and landlords save money during this typically expensive time of the year with the launch of some of Barclays lowest residential remortgage rates.

Homebuyers seeking a short to medium fixed rate term can choose a 2 or 5 year fixed rate available with either a 75 per cent or 80 per cent LTV with no product fee, £250 cashback and free valuations on properties up to £2m. Landlords will also be able to reduce their monthly outgoings too with reductions to our Buy-To-Let range.

“In addition to these rate reductions, customers will achieve further savings by benefitting from free standard legal work for those choosing to remortgage.”

A summary of the full changes is detailed below.

Product

LTV (%)

Old Rate

New Rate

Application Fee

Min Loan

Max Loan

 

2 and 5 Year Fixed rates – Purchase Only with £250 Cashback

 

2 year fixed

75

2.39%

1.89%

£0

£50,000

£250,000

5 year fixed

75

2.99%

2.49%

£0

£50,000

£250,000

2 year fixed

80

NEW

1.95%

£0

£50,000

£250,000

5 year fixed

80

NEW

2.69%

£0

£50,000

£250,000

 

5 and 7 Year Fixed Rates

 

5 year fixed

60

1.99%

1.89%

£999

£5,000

£1,000,000

5 year fixed Premier

70

NEW

1.83%

£1,499

£5,000

£1,500,000

7 year fixed

60

NEW

2.59%

£0

£5,000

£1,000,000

 

2 Year Fixed Rate – Buy To Let Products

 

2 year fixed

65

NEW

2.59%

£0

£35,000

£1,000,000

2 year fixed - Purchase only

75

3.59%

2.89%

£0

£35,000

£750,000

 

Buy To Let Rate – Switch Only

 

2 year fixed

65

2.79%

2.58%

£0

£5,000

£1,000,000

2 year fixed

75

2.99%

2.88%

£0

£5,000

£1,000,000

2 year tracker

75

NEW

BBBR+2.63% (2.88%)

£0

£5,000

£1,000,000

 

Buy To Let Tracker Rates

 

2 year tracker

75

NEW

BBBR+2.64% (2.89%)

£0

£35,000

£750,000

 

Rate Switch Only – Fixed Rates

 

5 year fixed

65

1.98%

1.98%

£499

£5,000

£1,500,000

7 year fixed

65

NEW

2.58%

£0

£5,000

£1,500,000

5 year fixed

80

2.24%

1.83%

£1,499

£5,000

£1,500,000

 

Large Loan Rates

 

5 year tracker

75

NEW

BBBR+1.49%

(1.74%)

£2,999

£750,000

£2,000,000

 For further information on Barclays mortgages visit www.barclays.co.uk/mortgages

 

House hunters can download the Barclays Homeowner app to find a dream home, calculate borrowing and for direct access to estate agents and mortgage specialists

 

Notes to editors

 

 

About Barclays

Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 130,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays .