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Barclays increases and cuts rates ahead of potential August rise

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  • 17/07/2018
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Barclays increases and cuts rates ahead of potential August rise
Barclays is repricing many of its deals ahead of a potential Bank of England base rate rise in August.

 

It is also reducing the minimum loan from £500,000 to £400,000 on some of its large loan deals.

Barclays is increasing rates on 18 products by between two and 10 basis points while cutting rates on 11 deals by between two and seven basis points.

The lender’s changes affect its residential remortgage, help to buy, green home and reward product ranges and will come in to effect from 18 July.

“There have been a number of recent rate rises in the market and further speculation about a base rise in August, and we are making a number of changes across our residential and reward ranges with new products launching tomorrow,” the lender said.

 

Increasing rates include:

First-time buyer two-year fixed with £0 product fee at 85% loan to value (LTV) up to 2.20%;

Help to Buy two-year fixed with £0 product fee at 75% LTV increase to 1.90%;

Residential remortgage two-year fixed with £999 product fee at 85% LTV increase to 1.87% with the minimum loan decreasing to £400,000.

 

Decreasing rates include:

Residential two-year fixed with £0 product fee at 60% LTV down to 1.90%;

Green Home five-year fixed with £999 product fee at 90% LTV down to 2.28%;

Reward two-year fixed with £0 product fee at 60% LTV down to 1.89%.

 

 

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