Barclays cuts residential and buy-to-let rates by up to 0.60%

Reductions include the lender's 100% LTV Springboard product and green home rates.

Related topics:  Mortgages
Rozi Jones | Editor, Financial Reporter
23rd January 2024
Barclays

Barclays has reduced rates by up to 0.50% across its residential and buy-to-let purchase and remortgage range and 0.60% across its existing customer range.

In the bank's residential purchase range, two-year fixed rates at 60% LTV now start from 4.08% for a Premier product, 4.09% for a standard product with an £899 fee, and 4.28% fee-free.

At 75% LTV, two-year fixes have reduced to 4.10% for the Premimer product, 4.12% for the standard rate, and 4.30% fee-free.

A two-year fixed rate green home product at 75% LTV has decreased to 4.20% and a five-year fixed rate Mortgage Guarantee product at 95% LTV is down from 6.27% to 5.86%.

Five-year Springboard products have reduced by up to 30bps and now start from 5.95% at 95% LTV and 5.99% at 100% LTV.

In Barclays' remortgage range, two-year fixed rates now start from 4.33% at 60% LTV, 4.42% at 75% LTV and 5.37% at 85% LTV, all with a £999 product fee.

Five-year fixes have reduced by up to 50bps and now start from 4.46% at 60% LTV, 4.54% at 75% LTV and 4.93% at 85% LTV.

For buy-to-let, selected purchase rates have reduced by 50bps, with two-year fixed rates at 75% LTV now starting from 5.68% and five-year fixes from 4.72%, both with a £1,295 fee.

Green home buy-to-let rates have also reduced by 50bps, with two-year fixes at 75% LTV reducing to 5.58% and five-year fixes to 4.62%.

For buy-to-let remortgage, a two-year fixed rate at 60% LTV with no fee has reduced by 50bps to 5.80% and a two-year fix at 75% LTV with a £1,795 product fee is down to 5.76%.

Five-year fixed rate remortgages have decreased to 4.83% at 60% LTV with no fee, while 75% LTV products now start from 4.60% with a £1,795 fee or 4.88% fee-free.

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