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 Product Changes
Please be advised we are making a number of changes across our residential purchase, remortgage and product transfer range. The changes consist of increases and decreases and will impact some of our 1 year, 2 year and 5 year products.
These updates will be made overnight and new products will be available to you for selection from tomorrow, Wednesday 31st January.
Key residential purchase product decreases:
- Reduced – 5 Year Fixed £899 product fee, 60% LTV, Min loan £5k, Max loan £2m, will be reducing from 4.39% to 4.09%.
- Reduced – 5 Year Fixed £0 product fee, 75% LTV, Min loan £5k, Max loan £2m, will be reducing from 4.70% to 4.40%.
- Reduced – 5 Year Fixed £0 product fee, 85% LTV, Min loan £5k, Max loan £2m, will be reducing from 5.03% to 4.73%.
Key residential remortgage product increases:
- Increased – Great Escape™ 2 Year Fixed £0 product fee, 60% LTV, Min loan £50k, Max loan £2m, will increase from 4.51% to 4.81%.
- Increased – 2 Year Fixed £999 product fee, 60% LTV, Min loan £5k, Max loan £2m, will increase from 4.34% to 4.64%.
- Increased – 2 Year Fixed £999 product fee, 75% LTV, Min loan £5k, Max loan £2m, will increase from 4.42% to 4.72%
IMPORTANT: With the interest rates on our fixed rate products increasing, please remember that for new lending (Purchase, Remortgage and Further Advance) applications, we don’t require you to submit the application today – instead, as long as you have the required loan details and product selected and saved in our application system (along with an ESIS generated) by today at the latest, Tuesday 30th January, you will then have up until Thursday 8th February to submit your application. Unlike for new lending, Product Transfer applications are required to be submitted in the Barclays Intermediary Hub by Wednesday 31st January, at the latest.
For more information, please view our Rate Overview Guide and you can access the full range of Barclays mortgage products, effective from tomorrow, within our updated Intermediary and Reward rate sheets.
Product withdrawal timings
To qualify for a product, an ESIS needs to have been generated, on or before the date of withdrawal (Tuesday 30th January) either using our Barclays systems or your preferred sourcing tool, with product selected and saved in our application system, this must then be submitted prior to the last application date Thursday 8th February for new lending applications.
Please be advised that upon withdrawal, the products will be removed from the dropdown options within our application services. Therefore, for new lending applications you will need to ensure the product has been selected and saved in the application today (you then have until Thursday 8th February to secure a case booking and submit).