Brilliant Solutions

Barclays Update

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 Product Update

Good news – in addition to confirming the launch of our innovative Green Home Mortgage products, we’re also pleased to confirm we’re making a number of rate reductions to a selection of products within our Residential Purchase, Remortgage and Reward ranges, effective tomorrow, Wednesday 28th April, 2021

Please be advised, we’re we are also extending the end dates on all our fixed rate products to 31st August.

What Residential products are we reducing? 

Large loan – Purchase and Remortgage

  • Reduced – 1.44% 2 Year Fixed £1999 fee, 70% LTV, Loans £2m – £10m reduced to 1.35%
  • Reduced – 1.79% 2 Year Fixed £1999 fee, 75% LTV, Loans £2m – £5m reduced to 1.65%
  • Reduced – 1.62% 5 Year Fixed £1999 fee, 70% LTV, Loans £2m –  £10m reduced to 1.52%
  • Reduced – 1.82% 5 Year Fixed £1999 fee, 75% LTV, Loans £2m – £5m reduced to 1.67%

Reward range – Rate Switch (Product Transfer) and Further Advance

  • Reduced – 1.58% 2 Year Fixed £0 fee, 60% LTV, loans £5k – £2m reduced to 1.29%
  • Reduced – 1.88% 2 Year Fixed £0 fee, 75% LTV, loans £5k – £2m reduced to 1.54%
  • Reduced – 1.29% 5 Year Fixed £999 fee, 60% LTV, loans £5k – £2m reduced to 1.24%
  • Reduced – 1.59% 5 Year Fixed £0 fee, 60% LTV, loans £5k  – £2m reduced to 1.49%
  • Reduced – 1.90% 5 Year Fixed £0 fee, 75% LTV loans £5k – £2m reduced to 1.74%
  • Reduced – 1.43% 5 Year Fixed £1999 fee, 70% LTV reduced to 1.35%

Please note that no products are being increased or withdrawn. Please view our new Intermediary and Reward rate sheets, for our range of new lending products, effective from tomorrow.

Key product change timings confirmed*

·       Existing products: Final date for generating a Mortgage Information Sheet (MIS) Tuesday 27th April, 2021

·       Last rate switch (product transfer) applications on existing Reward range products: Wednesday 28th April, 2021

·       Last new lending applications on existing products: Thursday 6th May, 2021                                             

Thank you 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:-

  1. You will need to have a Mortgage Information Sheet (MIS), at the latest, dated today Tuesday 27th April, on the product and loan terms you are recommending to your client, either using our Barclays systems or your preferred sourcing tool
  2. 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, Wednesday 28th April, the products due to change won’t be available for selection
  3. 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, Thursday 6th May, to enable your case to be submitted and avoid disappointment

Rate Switch (Product Transfer)

For rate switch applications, the existing Reward range products due to change, will be removed from selection in our Online Intermediary Rate Switch service, accessible in the Barclays Intermediary Hub, at the close of business tomorrow. Therefore rate switch applications on these products need to be submitted by tomorrow, Wednesday 28th April, at the latest.

Barclays Intermediary Excl Rate Sheet – 280421

Barclays Intermediary Rate Sheet – 280421

Important Barclays Product Update
Barclays Green Home Mortgages

We’re seeing a growing number of people integrate environmentally friendly and carbon neutral choices into their everyday lives and there is no question that these choices will impact housing and mortgage options in the near future.

At Barclays, we want to ensure that our customers and clients have access to financing that places green principles at its core, helping them transition to a low-carbon and sustainable lifestyle.

With this pledge in mind, we’re delighted to confirm we’re making our Barclays Green Home Mortgage even more accessible, so more property purchasers buying an energy efficient new build home can be rewarded with a lower rate on certain fixed rate products compared to our standard range.

Product availability and key criteria

Available across all sourcing platforms from tomorrow, Wednesday 28th April, the application process and the eligibility criteria is the same as any other purchase, however, the home must be a new build bought directly from the builder or developer and have an energy efficiency rating of 81 or higher, or an energy efficiency band A or B.

The applicant will need to prove the energy efficiency rating of the property by providing one of the following:

  • For fully built properties, a valid Energy Performance Certificate (EPC)
  • A valid Predicted Energy Assessment certificate if the property remains under construction

Important – the house builders can verbally confirm the energy efficiency rating of the applicant’s property straight away, and this is enough to progress with the application.

However, please ensure the eligible EPC or PEA is obtained from the house builder and is submitted to us prior to the mortgage offer stage to ensure a smoother processing experience. Please be advised we are unable to progress the case to completion without receipt of one of them.

What products are available?

  • 1.74% Help to Buy 2 Year Fixed, £749 fee, 75% LTV, Loans £25k – £450k
  • 1.88% Help to Buy 5 Year Fixed, £749 fee, 75% LTV, Loans £25k – £450k
  • 3.62% 2 Year Fixed, £0 product fee, 90% LTV, Loans £5k £570k
  • 3.62% 5 Year Fixed, £0 product fee, 90% LTV Loans £5k – £570k

The good news just keeps on coming!

In addition to this launch, we’re also making a number of rate reductions across a selection of products within our Residential Purchase, Remortgage and Reward ranges.

Look out for another email within the next hour which will provide all the details of these positive product changes and include an updated intermediary rate guide.

Thank you for your continued support

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