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Barclays overhauls resi range and Santander trims buy-to-let rates

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  • 31/10/2019
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Barclays overhauls resi range and Santander trims buy-to-let rates
Barclays has revealed an overhaul of its residential mortgage range, while Santander is trimming rates on a pair of buy-to-let deals.

 

Barclays is cutting rates by as much as 0.13 per cent across its two-, five- and ten-year fixes at a variety of loan to values (LTV) from 1 November.

The lender is reducing rates by as much as 0.11 per cent on selected 90 per cent and 95 per cent LTV core two- and five-year fixes,

For 10-year deals it is cutting rates by up to 0.13 per cent on its existing 80 per cent LTV product and introducing 70 per cent and 90 per cent loans.

Fee free 60 per cent and 75 per cent five-year fixes are being cut by up to 0.11 per cent, while the maximum loan size on equivalent £999 fee products is being increased to £5m.

And a £250 cashback option is being added to all two- and five-year products in its Reward range with a £999 fee.

Barclays is also increasing rates by up to 0.04 per cent on four fixed rates deals for purchase and remortgage with a £999 fee, and withdrawing three other loans – two of which are for large loan sizes.

 

Santander

Meanwhile, Santander is cutting rates on two five-year buy-to-let fixes, with these changes also taking effect on 1 November.

The 60 per cent LTV deal has been reduced by 0.1 per cent to 1.79 per cent, while the 75 per cent LTV product has been trimmed by 0.08 per cent to 2.11 per cent – both products have a £1,499 fee.

The lender said this was “great news for landlords who are looking for stability through these uncertain times”.

 

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