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!
Important: Barclays Case Booking Update
As you know, we utilise our case booking desk as a means of ensuring we manage our daily business levels; an approach that has worked well for us this year as we have remained competitive on price and consistently maintained an average application assessment period of within 5 working days.
Please be advised that as a result of the significantly increased demand we are currently experiencing, we have just reached our daily booking limit for today, Wednesday 28th September.
This means if your application doesn’t already have a booking, you will receive an error message within our application system and you will be unable to proceed with submission until the booking limit has been refreshed overnight tonight.
Important – not having a case booking does not mean you can’t secure a product today.
You can still secure the product by selecting it in the application system, from where you can subsequently attempt to acquire a booking and submit your application on another day.
Looking forward, we are now reviewing our current product range to assess where we can potentially further manage the levels of demand. Should we make any changes, we will email you to confirm.
In the meantime, to help us manage our support service, please refrain from contacting our intermediary teams as they will not be able to provide any additional support for case booking or provide case updates outside our standard initial assessment period of 5 working days.
We fully appreciate this is a very challenging period for you and your clients. Please rest assured that you have our full support and we will do all we can to ensure we not only provide you with competitive products, but also our best service experience.
The following products will be withdrawn today, Wednesday 28th September
Residential Purchase and Remortgage Fixed rates
- 4.15% 2 Year Fixed £999 product fee, 75% LTV, Min loan £5k, Max loan £2m
- 3.49% 7 Year Fixed £999 product fee, 60% LTV, Min loan £5k, Max loan £2m
Residential Remortgage Fixed rates
- 4.39% Great Escape™ 2 Year Fixed £0 product fee, 85% LTV, loans £50k – £2m
- 4.36% Great Escape™ 5 Year Fixed £0 product fee, 75% LTV, loans £50k – £2m
- 4.08% 2 Year Fixed £999 product fee, 60% LTV, Min loan £5k, Max loan £2m
- 4.29% 5 Year Fixed £999 product fee, 85% LTV, Min loan £5k, Max loan £2m
Residential Purchase Fixed rates
- 4.42% 2 Year Fixed £0 product fee, 90% LTV, Min loan £5k, Max loan £570k
Barclays mortgage product changes
As mortgage professionals, you’ll be all too aware of the challenging funding and market conditions that the industry currently faces. Due to the increased demand that these are placing on our products, please be advised we are increasing the rates on our fixed rate new lending products, available for purchase and remortgage applications across both our Residential and Buy to Let ranges.
These changes will be effective tomorrow, Friday 30th September, however as long as you have selected and saved a rate due to change within our application systems today, you will have a further nine days, up until the last application date Saturday 8th October, to secure a case booking and submit – giving you time to fully review and package the application, to help us assess and proceed to offer sooner.
Please click here for a full list of product changes including one product withdrawal.