Mortgages  

Barclays reduces buy-to-let rates

Barclays reduces buy-to-let rates

Barclays is making a number of changes to its residential and buy-to-let product ranges, including reducing rates by up to 0.3 per cent.

Highlights include a two-year buy-to-let tracker rate from 1.93 per cent, 1 per cent application fee buy-to-let products (minimum loan size £100,000) and reduced rates on two-year fixed rate products at 85 per cent and 90 per cent loan-to-value for purchase and remortgage.

Barclays will also be extending the end dates on all of its fixed rate products by three months to 30 June, although Help to Buy and new build products will retain the 30 September end dates.

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New introductions

Buy-to-let

2.29 per cent two-year fixed, 75 per cent LTV, 1 per cent fee, available for loan of £100,000 - £1m
3.39 per cent five-year fixed, 75 per cent LTV, 1 per cent fee, available for loan of £100,000 - £1m
Ammendments

Residential

2.05 per cent two-year fixed, 85 per cent LTV, £999 fee, reduced 0.08 per cent to 1.97 per cent
2.58 per cent two-year fixed, 90 per cent LTV, £999 fee, reduced 0.09 per cent to 2.49 per cent

Buy-to-let

2.19 per cent two-year fixed, 60 per cent LTV, £1,999 fee, reduced 0.20 per cent to 1.99 per cent
2.54 per cent two-year fixed, 75 per cent LTV, £1,999 fee, reduced 0.15 per cent to 2.39 per cent
2.15 per cent two-year tracker, 60 per cent LTV, £1,499 fee, reduced 0.22 per cent to 1.93 per cent
2.65 per cent two-year tracker, 60 per cent LTV, £1,499 fee, reduced 0.20 per cent to 2.45per cent
3.20 per cent five-year fixed, 60 per cent LTV, £1,999 fee, reduced 0.11 per cent to 3.09 per cent
3.79 per cent five-year fixed, 75 per cent LTV, £1,999 fee, reduced 0.30 per cent to 3.49 per cent

Premier buy-to-let exclusive

3.20 per cent five-year fixed, 60 per cent LTV, increased fee to £1,999 fee, reduced 0.15 per cent to 3.05 per cent

Ray Boulger, senior technical manager at John Charcol, said in most cases the bank has left rates unchanged and just extended the end dates to 30 June.

He added that the buy-to-let rates are “very competitive” and introducing a 1 per cent fee on some products will benefit some borrowers seeking a smaller loan, subject to the minimum loan size of £100,000.

peter.walker@ft.com