Barclays has made rate reductions across its range of two- to ten-year fixed rate deals by up to 0.11 per cent. Highlights from its rate cuts include a 1.29 per cent two-year deal at 75 per cent loan to value (LTV), down from 1.32 per cent for purchases, and a 2.23 per cent five-year fix at 90 per cent LTV down from 2.33 per cent for purchases and remortgages. Both deals come with a £999 product fee.
It has withdrawn a pair of two-year fixed deals at 1.50 per cent and 1.60 per cent at 60 and 75 per cent LTV respectively. Both deals had a minimum loan amount of £2m, and maximum loan amount of £5m and came with a £2,499 product fee.
It has also increased rates on 12 deals. For example, the bank’s five-year fixed rate buy-to-let purchase deal available up to 75 per cent loan to value has increased from 2.13 per cent to 2.22 per cent.
Its two-year fixed rate remortgage deal priced at 1.55 per cent at up to 85 per cent LTV, will increase to 1.65 per cent and on its purchase and remortgage range it has increased its two -year fix at 85 per cent, with a £2,499 product fee, from 2.09 per cent to 2.19 per cent.
Leeds Building Society
Targeting first-time buyers, Leeds Building Society has cut the cost of its 95 per cent LTV deal by 0.40 per cent to 2.84 per cent. The fee-free product also has a free standard valuation.
After the two-year fixed rate ends borrowers have the option of continuing on to a discounted deal for a further three years. The discount is 1.25 per cent off the mutual’s standard variable rate which is currently 5.69 per cent, giving borrowers a reduced rate of 4.44 per cent.
Borrowers are free to leave the three-year discount period at any time without paying an early repayment charge.
Nottingham Building Society
The Nottingham Building Society has cut rates on its retirement interest-only (RIO) mortgages and introduced new deals.
The mutual’s existing two-year fixed product has been cut to 3.20 per cent from 3.40 per cent and the three-year fixed is now 3.30 per cent down from 3.42 per cent. Both have no fees.
Its five-year fixed rate has dropped to 3.45 per cent from 3.55 per cent and comes with a £995 fee.
The society has added a three-year discount priced at 3.25 per cent to the existing two-year discount at 2.99 per cent. Both deals have no fees. It has also reintroduced a seven-year fixed product at 3.85 per cent with a £995 fee.
All of the RIO mortgages come with a free valuation and 40 per cent LTV limit.