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Barclays trims rates by up to 26bps, Nationwide launches broker forum – round-up

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  • 30/03/2021
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Barclays trims rates by up to 26bps, Nationwide launches broker forum – round-up
Barclays is reducing interest rates on selected mortgages across some of its higher loan to value (LTV) bands.

 

The lender is making price reductions on some 75, 80 and 85 per cent LTV purchase and remortgage products that will come into effect on 31 March.

Of those listed, the largest rate cut comes to its two-year fix at 85 per cent LTV that comes with a £999 fee, which is being cut from 2.75 per cent to 2.49 per cent.

The same product at 80 per cent LTV is being cut to 1.97 per cent from 2.04 per cent, while the 75 per cent LTV version is dropping to 1.38 per cent, from 1.5 per cent.

On the latter two deals, Barclays is also cutting rates for existing customers so that they match the rates given on new business.

 

Nationwide

Meanwhile, Nationwide Building Society and The Mortgage Works (TMW) are launching a broker engagement panel to take feedback and suggestions from advisers.

The initiative is being launched on a three-month pilot with invitation emails being sent out this week to brokers who are registered with Nationwide and TMW.

There is no limit on the number of brokers that can join and the mutual is encouraging as many brokers as possible to sign up through its website.

It said the new platform was likely to become a permanent feature depending on the level of broker engagement during the trial period.

Ian Andrew, director of intermediary relationships at Nationwide, said: “Although we always strive to provide the best possible service, there is always room to improve.

“That is why we are launching our broker connect panel because, by hearing the views and experiences of a wide range of brokers, we can continue to put them at the heart of what we do.

“However, it’s important we hear as many voices as possible from across the industry, which is why we encourage as many brokers as possible to sign up.”

 

 

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