Here are the latest updates from Barclays. These products are available via our direct to lender mortgage club which offers you payment on completion and a lot more besides!
Barclays mortgage product changes
Following a review of our current offering, please be advised we’re making a number of changes to products within our Residential New Lending range and across both our Residential and Buy to Let Reward ranges. These changes will be effective from tomorrow, Tuesday 5th July, 2022.
Important – Full details of all changes which include rate increases as well as new products being launched, are available by viewing our rate overview guide and guidance on securing a current rate before it changes is provided below.
Please note we are also extending the end date to 30th November on all fixed rate products across our Reward range – available for existing Barclays mortgage customers when switching rates or borrowing further funds.
Residential New Lending – product highlights
NEW Purchase rates
- 3.10% 5 Yr Fixed £999 product fee, 60% LTV, Min loan £5k, Max loan £2m
- 3.65% 5 Yr Fixed £999 product fee, 90% LTV, Min loan £5k, Max loan £570k
NEW Remortgage rates
- 3.10% 5 Yr Fixed £999 product fee, 60% LTV, Min loan £5k, Max loan £2m
- 3.75% Great Escape™ 2 Yr Fixed £0 product fee, 75% LTV, Min loan £50k, Max loan £2m
- 3.35% Great Escape™ 5 Yr Fixed £0 product fee, 60% LTV, Min loan £50k, Max loan £2m
How to secure a current rate before it changes
If you are in the process of recommending a rate that is confirmed as changing, you can still secure this rate, even if you’re not in a position to finalise and submit your application today.
Action required today to secure a rate:-
Generate a MIS
- You need to have a Mortgage Information Sheet (MIS) generated for the loan required on the required rate, dated (at the latest) today – Monday 4th July 2022.
- Note – You can generate a MIS either using our Barclays systems or your preferred sourcing tool.
Select and save the rate
- You must also ensure you have selected and saved the required product within our application systems today, as it will not be available for selection from tomorrow
Action required by last application date, Wednesday 13th July:-
Secure a case booking
- To successfully submit the application you will require a case booking in our application system and you have until Wednesday 13th July to book your case and submit.
Submit your application
- You will need to submit your application on or prior to the last application date to qualify for the product – the last application date for these products is Tuesday 5th July for Product Transfers (Rate Switches) and Wednesday 13th July for new and existing customer lending applications – Purchase, Remortgage and Further Advance.
Please see our new Intermediary and Reward rate sheets, to view the full range of Barclays mortgage products, effective from tomorrow.
Reminder – Key product change timings*
- Existing products: Final date for generating a Mortgage Information Sheet (MIS) Monday 4th July, 2022
- Last application date for Product Transfers (Rate Switches): Tuesday 5th July
- Last new lending applications on new and existing customer lending products: Wednesday 13th July, 2022