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 pricing, we’re pleased to confirm we’re making reductions to a number of products across our existing Residential Purchase, Remortgage and Reward ranges effective tomorrow, Thursday 31st March 2022
Please see below for some of the key highlights and for full details of all products changing, including new products that are launching, please take the time to review our rate overview guide.
Key change highlights
New product launching
In addition to reducing rates, please be advised we’re also launching a competitive new 75% LTV 2.00% 5 Year Offset Tracker. This product will complement our existing 2 Year Offset Tracker option which is reducing to 1.97% and could be ideal for your clients looking to purchase or remortgage a property and then put their savings to work over a longer period.
Reminder – with Barclays, a mortgage current account (MCA) is automatically opened when an offset mortgage is created. This is linked to the mortgage and can also act as the client’s everyday account. A maximum of 12 eligible accounts can be linked to the offset mortgage – comprising up to 4 current accounts (including the MCA) and up to 8 cash ISA’s and instant access savings accounts.
Your clients can choose to benefit from term reduction or payment reduction and they also maintain access to their savings and can make unlimited overpayments with early repayment charges only applying should they fully redeem within the product term – please see product information for full details.
Click here to read our Offset guide
Rate reductions highlights
Residential Purchase – Mortgage Guarantee Scheme
- 3.08% 2 Year Fixed, £750 cashback, £0 fee, 95% LTV, Loan £25k – £570k will reduce to 3.02%
- 2.70% 2 Year Fixed, £0 fee, 95% LTV, Loans £25k – £570k will reduce to 2.63%
- 3.10% 5 Year Fixed, £0 fee, 95% LTV, Loans £25k – £570k will reduce to 2.94%
Residential Purchase and Remortgage Fixed rates
- 2.22% 5 Year Fixed £999 fee, 60% LTV, Loans £5k – £2m will reduce to 2.09%
- 2.55% 5 Year Fixed, £999 fee,85% LTV, Loans £5k – £2m will reduce to 2.43%
Residential Great Escape* Remortgage Fixed rates
- 2.44% 2 Year Fixed, £0 fee, 60% LTV, Loan £50k – £2m will reduce to 2.28%
- 2.49% 5 Year Fixed, £0 fee, 60% LTV, Loan £50k – £2m will reduce to 2.28%
Residential Reward range – product transfer and further borrowing
- 2.44% 2 Year Fixed, £0 fee, 60% LTV will reduce to 2.28%
- 2.22% 5 Year Fixed, £999 fee, 60% LTV will reduce to 2.09%
- 2.49% 5 Year Fixed, £0 fee, 60% LTV will reduce to 2.28%
Please see our new Intermediary and Reward rate sheets, to view the full range of Barclays mortgage products, effective from tomorrow.
Key product change timings*
- Existing products: Final date for generating a Mortgage Information Sheet (MIS) Wednesday 30th March, 2022
- Last rate switch (product transfer) applications on existing Reward range products: Thursday 31st March, 2022
- Last new lending applications on existing products: Friday 8th April, 2022