Barclays Cuts Mortgage Rates
Barclays has recently made adjustments to its mortgage offering for UK homeowners. These changes encompass both residential purchase and remortgage products, involving adjustments to selected interest rates.
Within the residential purchase range, significant reductions are notable. For instance, there’s a noteworthy decrease in the 5-year fixed 60% loan-to-value (LTV) product, now available at 4.09%, accompanied by a £899 product fee. Additionally, the 5-year fixed 75% LTV product now stands at 4.40% with zero fees.
The positive adjustments are not limited to the residential purchase range; products within the remortgage and purchase & remortgage categories have also seen favourable rate cuts.
However, it’s essential to note that Barclays has also implemented several rate increases within its residential range. Examples include an EMC Reward 2-year fixed 60% LTV product, which has seen an increase to 4.51%. Similarly, the EMC Reward 2-year fixed 60% LTV product now stands at 4.69%.
Furthermore, a number of Barclays’ EMC Reward 1-year and 5-year fixed rates have also experienced increases.
These adjustments in Barclays remortgage offerings reflect the dynamic nature of the market and the need for homeowners to stay informed about changes that may impact their mortgage terms and conditions.