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 & Policy Changes
Following recent changes in the funding markets, please be advised we are increasing rates on fixed rate products within our Residential and Buy to Let Purchase and Remortgage new lending ranges plus our Residential and Buy to Let existing customer Reward ranges.
These updates will be made overnight and new products will be available to you for selection from tomorrow, Friday 2nd June.
For full details of all products changing, please view our Rate Overview Guide. Additionally, you can access the full range of Barclays mortgage products, effective from tomorrow, within our updated Intermediary and Reward rate sheets.
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 a MIS generated) by today at the latest, Thursday 1st June, you will then have up until Saturday 10th June to submit your application. Unlike for new lending, Product Transfer applications are required to be submitted in the Barclays Intermediary Hub tomorrow, Friday 2nd June, at the latest.
Please see directly below for an important update for your Barclays Bank clients plus the key information and timings relating to how and by when you need to submit last applications on all products confirmed as changing.
Updated requirements for Proof of Address
We have updated the documents that we will accept for when you are required to evidence ‘Proof of Address’ for your clients.
Read our Documents acceptable for proof of address guide for full details on our updated list of acceptable documents.
*Product withdrawal timings
To qualify for a product, a MIS needs to have been generated, on or before the date of withdrawal (Thursday 1st June) either using our Barclays systems or your preferred sourcing tool and must be submitted prior to the last application date – Friday 2nd June for Product Transfers and Saturday 10th June 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 Saturday 10th June to secure a case booking and submit).
Important Barclays Product Change Update
You will have received an email earlier this afternoon detailing changes being made across our fixed rates. Within this we outlined the only action required today to secure a product confirmed as changing would be to ensure the required loan details and product are both selected and saved in our application system (along with a MIS generated and issued to your clients).
Having problems?
We’re aware that some brokers have stated that they have experienced technical issues when attempting to select and save a current rate (prior to their withdrawal tonight) in our application systems, this afternoon. If you are experiencing issues and have progressed your application to a stage where your clients have been recommended one of these rates and you have issued them a MIS/ESIS accordingly, you can follow the steps below:
Email our technical support team at the latest, by 10am tomorrow, Friday 2nd June, at [email protected] entitling your email with ‘Product Sanction Request’.
Please ensure you provide the following case information:
- Barclays 16-digit case reference no. beginning 23889xxxxxxxxxxx
- Applicant 1 surname
- 4- digit product code for the required product
Our team will review your request and respond, in due course, with guidance on how you can progress your case.
Reminder – 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 a MIS generated) by today at the latest, Thursday 1st June, you will then have up until Saturday 10th June to submit your application. Unlike for new lending, Product Transfer applications are required to be submitted in the Barclays Intermediary Hub tomorrow, Friday 2nd June, at the latest.