Barclays increases two-year fixes by 30bps as five-year rates see further cuts

Two-year fixed rate purchase and remortgage rates are increasing by 0.30%.

Related topics:  Mortgages
Rozi Jones | Editor, Financial Reporter
30th January 2024
Barclays

Barclays has increased selected residential rates by 30bps while reducing other rates in the range by the same amount.

In its residential purchase only range, the cheapest two-year fixed rate at 60% LTV is now 4.38%, with a fee-free option increasing to 4.58%.

Two-year fixes have also risen by 30bps at 75% and 85% LTV, now starting from 4.40% and 4.95% respectively.

A 90% LTV two-year fix with no fee has increased to 5.43%, with Green Home rates and Mortgage Guarantee products also seeing 30bps increases.

In Barclays' remortgage range, 30bps increases cover a Premier two-year fix at 60% LTV, rising to 4.63%, as well as two-year fixes with a £999 product fee between 60% and 85% LTV and two Great Escape products.

Selected existing customer reward ranges are also increasing by 30bps.

Existing product decreases

Selected residential purchase five-year fixed rates are benefitting from 0.30% rate cuts amid the rises to two-year fixes.

At 60% LTV, five-year fixed rates now start from 4.08%, while 75% LTV rates are falling to 4.23% with an £899 fee and 4.40% fee-free.

85% LTV rates are reducing to 4.62% with an £899 fee and 4.73% fee-free, while a 90% LTV product with a £999 fee is down to 4.65%.

A green home five-year fix at 90% LTV with a £999 fee is decreasing to 4.55% and a Mortgage Guarantee rate at 95% LTV is down to 5.56% with no product fee.

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