Barclays mortgage product changes
Please be advised we are increasing the rates on a selection of 2 and 5 year fixed rate products within our Residential Purchase and Remortgage new lending ranges effective tomorrow, Friday 10th March.
Please view our rate overview guide for full details of all product changes, with further guidance on how to secure a current product before it changes, in the details at the bottom of this email.
Increased cashback: Great Escape remortgage products
Our Great Escape remortgage products offer cashback for your clients, whether they prefer to select Barclays ‘free standard legal’ conveyancers, or alternatively, appointing their ‘own solicitor’.
Our ‘free standard legal’ offering, is geared toward straight-forward remortgage cases, whereas for your clients’ whose personal or property circumstances are more complex, such as they require a transfer of equity, additional or non-standard title considerations or where they’re progressing other simultaneous property transactions, the option for them to appoint their ‘own solicitors’ is likely to be more appropriate for their needs.
In order to assist your clients preferring to appoint their own legal advisers, we have increased the cashback offered on our Great Escape remortgage products to £500
Simplified residency criteria
To help your clients receive faster mortgage offers, we’re pleased to announce we have simplified our approach for residency on residential applications by removing the volume of documents required to support an application. Click here to read more
How to secure a current product before it changes
If you are in the process of recommending a rate to your clients that is listed as withdrawing, you can still secure this rate, even if you’re not in a position to finalise and submit your application today.
To qualify for a product, a MIS needs to have been generated, on or before the date of withdrawal (Thursday 9th March) either using our Barclays systems or your preferred sourcing tool and must be submitted prior to the last application date – Saturday 18th March 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 Saturday18th March to secure a case booking and submit).