Barclays amends resi and reward ranges

Barclays has announced a number of rate cuts and product introductions within its residential and reward ranges.
Key reductions include the 85 per cent LTV two-year fix cut from 1.57 per cent to 1.54 per cent and the 90 per cent LTV two-year fix from 1.87 per cent to 1.77 per cent.
Both products are for purchase or remortgage and have a £999 fee.
In addition, the former offering includes a maximum loan value of £1m, while the latter has a maximum loan value of £375,000.
The 75 per cent LTV five-year fix has been sliced from 2.29 per cent to 1.89 per cent. This deal is for purchase or remortgage, has a £2,499 fee and a maximum loan value of £5m.
Furthermore, the lender is introducing a 90 per cent LTV five-year fix at 2.28 per cent. This product is for purchase or remortgage, has a £499 fee and a maximum loan value of £375,000.
A 75 per cent LTV three-year fix at 2.05 per cent, and an 85 per cent LTV three-year fix at 2.24 per cent have also been launched.
Both products are for remortgage only, within the lender’s Great Escape range, include no fees and have a maximum loan value of £1m.
Barclays director of mortgages Craig Calder says: “We constantly review market conditions to ensure our range of fixed rates are competitive as possible. We want to help more hard-working first-time buyers get on the property ladder sooner, as well as those choosing to remortgage, to keep their mortgage costs low.
“Over recent weeks, we have seen several consecutive reductions in the funding market which has enabled us to respond and pass on rate reductions directly to our customers.”
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