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Barclays to launch fresh five and 10-year mortgage deals

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  • 14/08/2018
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Barclays to launch fresh five and 10-year mortgage deals
Barclays is introducing a host of new mortgages, as well as cutting select tracker rates, with effect from tomorrow, 15 August.

 

The lender is launching a 10-year mortgage with a rate of 2.74% at 60% loan to value (LTV), with no product fee.

And two new two-year deals for buyers with a 5% deposit are being added, one with no product fee and the other with a £999 fee at rates of 3.5% and 3.34% respectively.

Barclays will also offer a five-year fix at 95% LTV at a rate of 4.04% with a product fee of £499, as well as an option with no fee at a rate of 4.14%.

At the same time, rates on a number of two-year purchase and remortgage trackers at 75%, 70% and 60% LTV have been reduced.

Barclays said it was making the changes to remain competitive in the market.

It comes after a wave of lender product changes in the wake of the Bank of England base rate hike earlier this month.

A number of lenders have increased their Standard Variable Rates, with NatWest the latest to confirm this week with a 0.25% increase to the default rate, taking it to 4.24%.

Santander, Lloyds and TSB have already announced 0.25% increase to variable rates.

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