Barclays Mortgage product increases
Following a review of our current pricing, please be advised we’re increasing the rates on a selection of products within our existing Residential Purchase and Remortgage ranges, effective tomorrow, Tuesday 12th April, 2022.
Please click here for full details of all products changing and please review the actions (detailed below), should you be in the process of recommending one of these rates to your clients:-
Important – securing a case booking on any product confirmed as increasing
Please keep in mind that in order to ensure you have secured a product that is confirmed as increasing, 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.
Key product change timings*
- Existing products: Final date for generating a Mortgage Information Sheet (MIS) Monday 11th April, 2022
- Last new lending applications on existing products: Wednesday 20th 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 Monday 11th 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, Tuesday 12th 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, Wednesday 20th April, to enable your case to be submitted and avoid disappointment.
Barclays mortgage product withdrawals
We are currently experiencing high demand for our products so to ensure we can efficiently process your business during this period, please be advised that we’re withdrawing a selection of 2yr and 5yr fixed rate products from our existing Residential and Buy to Let Purchase and Remortgage ranges, effective today, Wednesday 13th April, 2022.
Booking Desk Update
Our booking desk has now closed for the day, but this doesn’t mean you can’t secure a product being withdrawn, it simply means that if you don’t already have a case booking for an application on one of these rates, you may not be able to submit it today.
To secure a withdrawn rate so that you can submit an application prior to the last application date for these rates (Friday 22nd April), there are some actions you will need to have completed by close of business today – full details on how to secure a rate are provided below.
The following products are being withdrawn today:-
Residential Purchase and Remortgage Fixed rates
- 2.15% 2 Year Fixed £999 fee, 60% LTV, Loans £5k – £2m
- 2.25% 5 Year Fixed, £999 fee,60% LTV, Loans £5k – £2m
Residential Great Escape* Remortgage Fixed rates
- 2.47% 2 Year Fixed, £0 fee, 60% LTV, Loan £50k – £2m
- 2.48% 5 Year Fixed, £0 fee, 60% LTV, Loan £50k – £2m
Residential Purchase Fixed rates
- 2.43% 2 Year Fixed £0 fee, 60% LTV, Loans £5k – £2m
- 2.50% 5 Year Fixed,£0 fee,60% LTV, Loans £5k – £2m
Buy to Let Purchase and Remortgage Fixed rates
- 2.23% 2 Year Fixed £0 fee, 60% LTV, Loans £35k – £1m
- 2.56% 5 Year Fixed,£0 fee, 75% LTV, Loans £35k – £1m
How to secure a current rate before it changes
If you are in the process of recommending a rate to your clients that is listed as changing, you can still secure this rate, even if you’re not in a position to finalise and submit your application today.
Action required today to secure the rate:-
Generate a MIS
You need to have a Mortgage Information Sheet (MIS) generated for the loan required on the required rate, dated (at the latest) today – Wednesday 13th April 2022. You can generate a MIS either using our Barclays systems or your preferred sourcing tool.
Select and save the rate
You must also ensure you have selected and saved the required product within our application systems today, as it will not be available for selection from tomorrow
Action required by last application date, Friday 22nd April:-
Secure a case booking
To successfully submit the application you will require a case booking in our application system. A limited number of bookings are available daily – if you’re unable to secure a booking today, don’t worry, you have until Friday 22nd April to book your case and submit.
Submit your application
You will need to submit your application on or prior to the last application date to qualify for the product – the last application date for these products is Friday 22nd April.
Key product change timings*
- Existing products: Final date for generating a Mortgage Information Sheet (MIS) Wednesday 13th April, 2022
- Last new lending applications on existing products: Friday 22nd April, 2022