The reductions have been made to purchase-only tracker mortgage rates for existing buy-to-let (BTL) borrowers.
This includes the two-year deal at 60 per cent loan to value (LTV) with a £1,295 fee. This has been cut from 6.48 per cent to 6.2 per cent.
The corresponding option at 75 per cent LTV has been reduced from 6.5 per cent to 6.25 per cent.
Barclays – which reported £22.7bn in gross mortgage lending in 2023 – has also launched a premier exclusive product for residential purchase. This is a three-year fix at 60 per cent LTV with a £999 fee. This has a rate of 4.34 per cent and is available for loans ranging from £5,000 to £2m.
The lender has increased rates for existing purchase and remortgage products for residential borrowers.
This includes the two-year fixed purchase mortgage at 60 per cent LTV with a £899 fee, which has risen from 4.39 per cent to 4.54 per cent, and the fee-free option, which has gone up by 0.1 per cent to 4.68 per cent.
Across higher-LTV deals, the fee-free two-year fixed rate at 90 per cent LTV has been increased from 5.43 per cent to 5.66 per cent.
Rate increases have also been made to Barclays’ five-year fixes, green mortgages and remortgage options.
The lender has made changes to its fixed rate early repayment charges (ERCs) so all two-year products are set at two per cent of the balance repaid, three-year products at three per cent, five-year products at four per cent and 10-year products at six per cent.
Natwest
Natwest has increased rates for existing borrowers by up to 0.1 per cent.
This applies to two- and five-year fixed switcher products, such as the two-year fix at 60 per cent LTV with no fee. This has risen by 0.05 per cent to 4.99 per cent, while the options with a £495 fee and a £995 fee have gone up by the same amount to 4.89 per cent and 4.69 per cent respectively.
Increases across its five-year fixed switcher products include the product at 60 per cent LTV with a £995 fee, which has gone up from 4.24 per cent to 4.34 per cent.
The equivalent options with a £495 fee and no fee have increased by the same amount to 4.44 per cent and 4.54 per cent respectively.
At 90 per cent LTV, the fee-free five-year fixed switcher rate has increased by 0.05 per cent to 5.44 per cent.
Clydesdale Bank
Clydesdale Bank has made rate increases across select mortgage products.
For new and existing residential borrowers, two- and five-year fixed rates at 65 and 75 per cent LTV will rise by up to 0.29 per cent.
Its two- and five-year fixes for professional borrowers will increase by as much as 0.29 per cent. For BTL borrowers, two-year fixes at 60 per cent LTV will rise by up to 0.06 per cent in rate.
Elsewhere, Clydesdale Bank will increase select two- and five-year fixed rates for BTL borrowers by as much as 0.45 per cent.
It has launched exclusive remortgages for residential borrowers, with two- and five-year fixes at 75 to 85 per cent LTV with a £1,499 fee. These have rates starting from 4.54 per cent.
Clydesdale Bank has launched exclusive residential purchase deals, fixed for two and five years at 75 to 90 per cent LTV. These also have a £1,499 fee and rates start from 4.44 per cent.
Exclusive large loan products for residential borrowers have also been added, fixed for two or five years at 75 to 90 per cent LTV, with rates beginning at 4.53 per cent.
