Brilliant Solutions

Barclays Update

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

Market activity remains strong and with a competitive product range, coupled with stable service (currently still 3 working days to assess applications), we’re well equipped to manage your business.

Good news – to further support you and your clients, we’re pleased to confirm we’re making a number of positive rate reductions across products within our Residential Purchase, Remortgage and Reward ranges, effective tomorrow, Tuesday 2nd February, 2021

Key change highlights
These changes will see us reduce a selection of our 60%, 75% and 85% LTV 2 and 5 Year fixed rates by as much as 0.19% across both our Purchase and Remortgage ranges ensuring each remains competitive and well placed to support a wide range of your clients.        

Key purchase rate change highlights        

  • Reduced – 1.77% 2 Year Fixed, £0 fee, 60% LTV – reducing to 1.58%
  • Reduced – 1.28% 2 Year Fixed, £999 fee, 60% LTV  – reducing to 1.22%
  • Reduced – 1.78% 5 Year Fixed, £999 fee, 75% LTV – reducing to 1.67%

Key remortgage change highlights.

  • Reduced – 1.28% 2 Year Fixed, £999 fee, 60% LTV – reducing to 1.22%
  • Reduced – 2.81% 2 Year Fixed, £999 fee, 85% LTV – reducing to 2.67%
  • Reduced – 3.09% Great Escape* 2 Year Fixed, £0 fee, 85% LTV – reducing to 2.95%

         *Our Great Escape products come with a free non-disclosed valuation, free legals plus £250 cashback

These changes also include some further positive changes within our lower LTV Reward rates to support existing Barclays mortgage customers looking to switch their rate with a product transfer.

Key product transfer Reward change highlights.

  • Reduced – 1.28% 2 Year Fixed, £999 fee, 60% LTV – reducing to 1.22%
  • Reduced – 1.64% 2 Year Fixed, £0 fee, 60% LTV  – reducing to 1.58%
  • Reduced – 1.69% 5 Year Fixed, £0 fee, 60% LTV – reducing to 1.59%

Please note that no products are being increased or withdrawn. You can view our rate change overview and our new Intermediary and Reward rate sheets, for our range of new lending products, effective from tomorrow.   

Key product change timings confirmed*

  • Existing products: Final date for generating a Mortgage Information Sheet (MIS) Monday 1st February, 2021
  • Last rate switch (product transfer) applications on existing Reward range products: Tuesday 2nd February, 2021
  • Last new lending applications on existing products: Wednesday 10th February, 2021

                                        

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