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Barclays ups rates; Co-op Bank adjusts pricing – round-up

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  • 22/04/2024
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Barclays ups rates; Co-op Bank adjusts pricing – round-up
Barclays has announced a wave of mortgage rate increases for existing borrowers.

Changes will apply to rates for Barclays’ purchase, remortgage and reward ranges, with increases of 0.1%. 

Rates across its residential purchase-only mortgages include a five-year fixed premier product at 60% loan to value (LTV) with a £699 fee. This has risen from 4.36% to 4.46%. 

The standard alternative with a £899 fee has gone up from 4.37% to 4.47%. 

The lender’s purchase-only two-, three- and five-year fixed rates within the premier, standard and green home ranges have also been amended. 

Across its remortgage-only products, changes include the two-year fix at 60% LTV with a £999 fee, which has risen to 4.94%, the option at 75% LTV, which has gone up to 5%, and the 85% LTV deal, which is now 5.77%. 

Its two- and five-year fixed remortgage and purchase products at 60%, 70% and 75% LTV have also increased in pricing. These now start at 4.77% for a five-year fix at 60% LTV or 4.94% for a two-year fix at the same tier. 

Across its reward range for existing residential borrowers, Barclays has increased rates on one-, two- and five-year fixed products. 

 

Co-op Bank refreshes rates 

The Co-operative Bank (Co-op Bank) has adjusted its mortgage rates with both increases and cuts. 

Across its new business residential rates, select two- and five-year fixes will be reduced by up to 0.07%, while select two-, three- and five-year fixed rates will be increased by as much as 0.41%. 

Within its professional mortgage range, Co-op Bank will increase select two-year fixed rates by up to 0.41% and five-year fixed rates by as much as 0.33%. 

For the Wales Help to Buy scheme, the lender will cut select two-year fixed product rates by up to 0.07% and raise select two- and five-year fixed rates by up to 0.1%. 

Changes apply from 22 April.

The lenders join the likes of Natwest, which also announced rate increases for existing borrowers today. 

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