Barclays introduces cash back deals and ups big loan rates

Barclays introduces cash back deals and ups big loan rates

Barclays is making changes to rates on around 30 of its fixed rate products and introducing three new deals.

 

The biggest changes are taking place on its large loans for borrowing between £1m and £5m, where the two-year and five-year fixes at 85 per cent loan to value (LTV) are increasing by 0.5 per cent and 0.2 per cent respectively.

It is cutting rates on more than 25 products across residential and buy-to-let sectors, with most rates being reduced by around 0.05 per cent.

Barclays is also introducing three residential fixed-rate products, two with £500 cash back.

Changes come into effect today, and Barclays will also bring end dates forward on all fixed rate deals to 31 July.

The pair of new cash back deals are for purchases at up to 70 per cent loan-to-value (LTV) with a two-year fix at 1.99 per cent and a five-year fix at 2.25 per cent.

The third new deal is a two-year fix for residential purchase or remortgage at up to 75 per cent LTV with a £299 product fee at 1.85 per cent.

 

 

SOURCE: mortgagesolutions

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