Barclays debuts FTB deals, cuts rates by up to 50bps  

By: ameer@trustedteam.com

Barclays will launch a range aimed at first-time buyers and second movers, and cut selected existing residential products by as much as 50 basis points from tomorrow (4 October).

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Highlights of its changes include:

New residential purchase products:

  • Two-year premier fixes, with a £899 fee, at 90% loan to value, at 4.85% — minimum loan £5,000, maximum loan £570,000
  • Five-year fixes, with no fee, at 60% LTV, 3.92% –minimum loan £5,000, maximum loan £2m

Residential rate reductions:

  • Two-year premier fixes, with a £899 fee, at 60% LTV, down by 23bps to 3.96% — minimum loan £5,000, maximum loan £2m
  • Five-year premier fixes, with a £999 product fee, at 90% LTV, down by 18bps to 4.42% — minimum loan £5,000, maximum loan £570,000
  • Five-year mortgage guarantee fixes, with no fee, at 95% LTV, down by 30bps to 5.26% — minimum loan £25,000, maximum loan £570,000

Remortgage-only reductions:

  • Two-year fixes, with a £999 fee, at 85% LTV, down by 50bps to 5.32% — — minimum loan £5,000, maximum loan £2m
  • Five-year fixes, with a £999 product fee, at 85% LTV, down by 10bps to 4.93% — minimum loan £5,000, maximum loan £2m

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