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TODAY'S OTHER NEWS

Barclays introduces new products and reduces rates

Barclays has cut rates on a number of products across its residential, buy-to-let and Reward ranges.

The buy-to-let range includes a 2.35% five-year fixed, available at 75% loan-to-value (LTV), which is subject to a £1,795 product fee. 

The deal is available to those looking to secure a minimum loan of £35,000 and a maximum loan of £1m.

Barclays has launched a range of fee-free buy-to-let mortgage products in recent weeks.

Rate reductions in the buy-to-let range for purchases and remortgages have included a two-year fixed rate with a £1,749 product fee at 75% loan-to-value, reduced from 1.77% to 1.68%.

There is also a fee-free two-year product available at 75% LTV which has been cut from 2.56% to 2.47%, and within its premier choice range there is a 2.55% two-year fix without a fee at 75% LTV which has been cut from 2.55% to 2.46%.

Meanwhile, the lender’s five-year fixed buy-to-let rate has been reduced to 2.04% at 60% LTV with a £1,795 fee, while five-year fixed rates start at 2.35% up to 75% LTV with a product fee, or 2.73% with no fee.

Within its remortgage range Barclays has increased its cashback offered on its great escape products from £300 to £400.

There are also two two-year fixed rate deals available without a fee, one at 60% LTV which has been cut from 1.97% to 1.95% and one at 75% LTV which will be reduced from 1.99% to 1.97%.

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