Barclays Update

Announcement From Barclays

Please be advised we are making further changes to our Residential purchase and remortgage ranges effective tomorrow, Friday 24th July, including the introduction of new products for purchase and remortgage, and a limited number of existing rate increases. 

Note: if you have already recommended a product that is due to increase, although the last day for producing a MIS and selecting the existing products within our application systems is today, Thursday 23rd July, you will have until Saturday 1st August to submit these applications – giving you the time to ensure you can provide all packaging requirements upon submission and enabling our underwriters to be in a position to conduct their full assessment upon their initial case review. This way, we can continue to deliver the service that you expect for your clients. For your information, our underwriters are currently reviewing cases received on Friday 17th July.

New Residential Products Launching

• New (purchase only) 1.34% 2 Year Fixed, £999 fee, 60% LTV, Loans £5k – £10m
• New (remortgage only) 1.34% 2 year Fixed, £999 fee, 60% LTV, Loans £5k – £5m

Existing Products Changing
(Available for Residential purchase and remortgage)

• 1.43% 2 Year Fixed, £999 fee, 80% LTV, Loans £5k – £2m increasing to 1.60%
• 1.73% 5 Year Fixed, £999 fee, 80% LTV, Loans £5k – £2m increasing to 1.85%

(Available for Residential purchase only)

• 2.33% 5 Year Fixed, £0 fee, 85% LTV, Loans £5k – £2m increasing to 2.49%

Please view our new Intermediary rate sheet and see below for key timelines for when products are being launched and withdrawn.

Weekend Support Update
We are pleased to confirm that in addition to weekdays, our colleagues are now available on Saturdays to support you through our online LiveChat service, accessible from the homepage within the Barclays Intermediary HUB.

Available between 9am – 1pm, the team are equipped to deal with any application query you have so you can quickly and easily get the answers you need.

Key product change timings*

• Existing products: Final date for generating a Mortgage Information Sheet (MIS) Thursday 23rd July, 2020
• New products available: Friday 24th July, 2020
• Last applications on existing products: Saturday 1st August, 2020

*Applications on an existing product
To qualify for a product, a MIS needs to have been generated, on or before the date of withdrawal (Thursday 23rd July), either using our Barclays systems or your preferred sourcing tool. The application is also required to have been successfully submitted prior to the last application date – Saturday 1st August

Please be advised that upon withdrawal, the products will be removed from the dropdown options within our new lending application services. Therefore, you will need to ensure the product has been selected and saved in the application today