The bank has launched a purchase-only residential tracker product for Premier borrowers, priced at 3.96% with a £999 fee. This is available at 75% loan to value (LTV) and on a two-year term.
It has also introduced a fee-free five-year fix for Premier purchase borrowers at 80% LTV with a 4.93% rate.
Barclays has added two remortgage-only products to its Premier range: a two-year fix at 80% LTV and a rate of 5.08% and a five-year fix at 60% LTV, priced at 4.8%. Both come with a £999 fee.
Further, the bank has reduced rates for existing borrowers either purchasing or remortgaging.
This includes its two-year fix purchase deal for Premier borrowers at 75% LTV with an £899 fee, falling from 4.63% to 4.71%, the three-year fix equivalent, reduced from 5.1% to 5.05%, and a five-year fix at 90% LTV, declining from 5.01% to 4.94%.
Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let
Sponsored by Aldermore
The bank will reduce three- and five-year fixed remortgage-only deals at 60% and 75% LTV with either a £999 fee or no fee, with the three-year fix at 60% LTV with a £999 fee now priced at 4.9%, down from 4.95%, and the five-year fixed equivalent falling from 5.01% to 4.83%.
Changes will apply from 30 April.
HSBC and Natwest reduce pricing
HSBC and NatWest have also announced lower mortgage rates from 30 April.
NatWest will cut rates by as much as 19 basis points, impacting BTL and residential mortgages.
Changes include its five-year fix at 85% LTV for first-time buyers, falling from 5.05% to 4.99% with no fee and from 4.95% to 4.89% with a £995 fee. Both have £250 cashback.
At 90%, the fee-free deal has been cut from 5.19% to 5.15% and the £995 fee-paying option from 5.09% to 5.05%.
HSBC’s changes will apply to residential and BTL rates.
Coventry BS lowers rates
Further, Coventry Building Society has reduced all offset, interest-only and offset interest-only rates for new borrowers.
It has also lowered all two- and three-year fixed rates between 65% and 85% LTV, excluding selected first-time buyer deals, all two- and three-year fixed remortgages at 90% LTV and all five-year fixed rates between 65% and 90% LTV, excluding selected first-time buyer products.
This includes a two-year fix for first-time buyers with no fee at 75% LTV, which is priced at 5.19%.
For existing borrowers, offset, interest-only, and offset interest-only rates have been lowered, as well as all two- and three-year fixes at 65-85% LTV and five-year fixes at 65-90% LTV.
All BTL fixed rates have been cut for new and existing borrowers, and new business limited company BTL rates have been reduced.
This includes a limited company five-year fixed purchase for energy-efficient properties, priced at 5.17% at 75% LTV with a £3,999 fee.
