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
Please be advised we are increasing rates on fixed rate products within our Residential and Buy to Let Purchase and Remortgage new lending plus existing customer Reward ranges.
These updates will be made overnight and new products will be available to you for selection from tomorrow, Wednesday 12th July.
For full details of all products changing including those being withdrawn, please view our Rate Overview Guide.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, Tuesday 11th July, you will then have up until Thursday 20th July to submit your application.
Unlike for new lending, Product Transfer applications are required to be submitted in the Barclays Intermediary Hub tomorrow, Wednesday 12th July, at the latest.
Please see further below for full information on our product withdrawal timings.
Mortgage Charter – Support for existing mortgage holders
We understand the pressure your clients may be feeling from the rising cost of living and increased mortgage rates.
We’re here to help and have signed up to the new Mortgage Charter recently announced by the Government to support people with residential mortgages. We are working through the details as quickly as possible and will introduce the new measures over the coming days and weeks.
If your clients need help today, however, please direct them to the Barclays mortgage support hub for information, tools and support to help them manage their mortgage.
If they are worried that they may struggle with their mortgage payments, we can help. Please ask them to call us as soon as possible on 0333 202 75041* so we can find the best way to support them. We’re here Monday to Thursday from 8am to 8pm, Friday from 8am to 6pm, and Saturdays from 9am to 1pm.
Product withdrawal timings
To qualify for a product, a MIS needs to have been generated, on or before the date of withdrawal (Tuesday 11th July) either using our Barclays systems or your preferred sourcing tool and must be submitted prior to the last application date – Wednesday 12th July for Product Transfers and Thursday 20th July 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 20th July to secure a case booking and submit).