Rates have been reduced by up to 33 basis points
Barclays Mortgages has announced that it is reducing rates on several existing purchase only residential mortgage products, effective Tuesday, June 25.
The rate changes include a reprice of the lender’s Premier product with a £899 fee. Those at 60% and 75% loan-to-values (LTVs) will have their rates slashed from 4.98% to 4.67%, and 5.04% to 4.74%, respectively.
The standard product with a £899 fee at 60% LTV will be reduced from 4.99% to 4.68%, while the same at 75% LTV will be repriced from 5.05% to 4.75%. The rate of the 85% LTV standard product with a £899 fee will be slashed from 5.14% to 4.93%.
The high street lender will also bring down the rates of its 60% and 75% LTV no-fee product from 5.13% to 4.88% and 5.23% to 4.98%, respectively. The no-fee product at 85% and 90% LTVs, will decrease from 5.33% to 5.15%, and 5.76% to 5.48%, respectively.
Barclays’ five-year fixed rates will also be adjusted, with the 4.40% Premier product with a £699 fee at 60% LTV, getting its rate slashed to 4.25%.
The standard product with a £899 fee at 60%, 75%, and 85% LTVs will be repriced from 4.41% to 4.23%, 4.53% to 4.38%, and 4.73% to 4.57%, respectively, while the 90% LTV standard product with a £999 fee will have its rates reduced from 4.90% to 4.85%.
The no-fee product at 75% and 85% LTVs will decrease from 4.67% to 4.52%, and 4.90% to 4.75%, respectively.
The lender’s Green Home mortgages will also see reductions, with two-year fee-free options at 75% and 90% LTVs decreasing rates from 5.13% to 4.88%, and 5.66% to 5.38%. The 90% LTV five-year fix with a £999 fee under this range will be repriced from 4.80% to 4.75%.
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