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Barclays and Saffron BS confirm rate cuts

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  • 21/08/2019
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Barclays and Saffron BS confirm rate cuts
Two mortgage lenders have announced they are reducing the rates charged on selected mortgage products.

 

Barclays is making a host of rate cuts across its residential and reward ranges from tomorrow.

The rate changes range in size from 0.01 per cent to 0.09 per cent, and cover products available for purchase, remortgage or both.

For example, the rate on its five-year fix at 60 per cent loan to value (LTV) is dropping from 1.7 per cent to 1.68 per cent, while the 85 per cent LTV version is dropping from 1.99 per cent to 1.96 per cent.

Craig Calder (pictured), director of mortgages at Barclays, said: “With continued demand for longer term fixed rates, our rate reductions announced today ensure we are offering a competitive products and will help home buyers seeking certainty from a five year fix mortgage.”

 

Saffron BS

Elsewhere, Saffron Building Society has revamped its limited company buy-to-let range.

It has launched a new five-year fix with a 3.47 per cent interest rate, available up to 75 per cent, alongside trimming rates and arrangement fees on its two-year fixed rate deals. 

Anita Arch, head of mortgage sales at Saffron, said the one per cent reduction in the arrangement fee ‒ which now sits at one per cent ‒ meant the deals were now “worth consideration”, adding: “Intermediaries have attractive new options to offer their landlord clients.”

 

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