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Barclays announce BTL rate cuts

Barclays Mortgages has launched a series of rate reductions across a number of buy-to-let – and residential – ranges for both purchase and remortgage.

Fee-free buy-to-let products for purchase and remortgage at 75% loan-to-value (LTV) now stands at 2.66% for a two-year fix and 2.99% for a three-year fix.

Craig Calder, director of Barclays Mortgages, said: “We are really excited about the great opportunities of the mortgage market in early 2019.

“We expect the remortgage market to be particularly vibrant as many customers will be looking to get their finances in order following the holiday period, so in addition to a host of reductions across our existing rates, we are delighted to confirm the launch of a new product which comes with £500 cashback.”

Residential purchase mortgage changes include a reduction to the 95% LTV rate, which now stands at 3.4% for a five-year fix and 3.02% for a two-year fix, both with no fee.

Residential remortgage now includes a 1.97% two-year fix to 70% loan-to-value, a 2.12% two-year fix to 85% LTV and a 2.06% five-year fix to 60% LTV, all with no fee and £500 cashback.

There is also a new purchase and remortgage product available at 2.07% for a seven-year fix, subject to a £999 fee.

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