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Barclays reduces buy-to-let rates and launches 1.86 per cent large loan

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  • 18/03/2019
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Barclays reduces buy-to-let rates and launches 1.86 per cent large loan
Barclays will offer rate reductions and introduce mortgage products from Tuesday 19 March, the lender has announced.

The products will include a two-year fix with 60 per cent loan-to-value (LTV) at 1.86 per cent with a maximum loan value of £1m.

The two-year fix has no product fee and the same is true of the 75 per cent LTV five-year fix at 2.19 per cent which the lender announced as part of its EMC Reward range.

Of the existing products that Barclays will reduce the two year fix with 95 per cent loan to value will be cut from 3.52 to 3.47 per cent, while the 90 per cent LTV five-year fix is being reduced from 2.44 to 2.36 per cent. Both products have a £375,000 maximum loan and no product fee.

For buy-to-let purchase or remortgage, the 60 per cent LTV two-year tracker will be reduced from 2.10 per cent to 1.85 per cent. This comes with a product fee of £1,795 and a maximum loan value of £2m.

Asked if Barclays were increasing any mortgage rates, a spokesperson said: “Although funding costs have increased, as well as many of our competitors’ pricing, we’ve reduced some of our rates within the Residential and Reward ranges to support customers in this time of market uncertainty.”

 

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