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 withdrawals
Please be advised we’re withdrawing the following Residential Purchase and Remortgage products, effective today, Wednesday 6th April, 2022.
This means that from tomorrow, Thursday 7th April, the following rates won’t be available for selection within our application system, so it’s important you review the actions (detailed below), should you be in the process of recommending these rates to your clients:-
Residential Purchase Fixed rate
- 2.15% 2 Year Fixed £999 fee, 90% LTV, Loans £5k – £570k withdrawn
Residential Purchase and Remortgage Fixed rates
- 2.04% 2 Year Fixed £999 fee, 75% LTV, Loans £5k – £2m withdrawn
- 2.25% 5 Year Fixed, £999 fee,75% LTV, Loans £5k – £2m withdrawn
Important – securing a case booking on any product confirmed as being withdrawn
Please keep in mind that in order to ensure you have secured a product that is confirmed above as being withdrawn, the only action you must complete today is to generate a MIS and then select and save the required rate within our application system.
You do not need to secure a case booking today and you can generate a MIS either using our Barclays systems or your preferred sourcing tool.
Note – You will require a case booking in order to submit the application, however, this can be completed at any point in time (subject to booking availability) right up until the last application date, detailed below.
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 6th April, 2022
- Last new lending applications on existing products: Friday 15th April, 2022
Thank you again for your continued support
*How to reserve and submit an application on a product due to change, you’ll need to follow the three steps, outlined below:-
- You will need to have a Mortgage Information Sheet (MIS), at the latest, dated today Wednesday 6th April on the product and loan terms you are recommending to your client, either using our Barclays systems or your preferred sourcing tool.
- It’s important that you access your clients’ application and ensure that you have progressed to a stage where the recommended product has been selected from the drop down list and is saved in the application today, as from tomorrow, Thursday 7th April, the products due to change won’t be available for selection
- Finally, although you won’t require a successful case booking to reserve the product today, you will require a booking by the time you come to submit the application. We therefore recommend that you aim to secure a case booking in advance of the last application date, Friday 15th April, to enable your case to be submitted and avoid disappointment.