Barclays has enhanced its remortgage range with new products and trimmed rates on a number of its existing deals.
From tomorrow, (24 August) the bank will offer a 1.49 per cent ‘Great Escape’ two-year fixed remortgage rate, which is available at 60 per cent loan-to-value (LTV) for loans from £50k to £500k.
It is also launching a 1.59 per cent two-year remortgage fix at 75 per cent LTV for loans up to £500k.
Meanwhile, rate cuts on Barclays’ existing products mean 60 per cent LTV rates are available from 1.14 per cent with a £1,499 fee.
Craig Calder, director of Barclays Mortgages, said: “We are pleased to confirm the launch of these new products which coupled with the rate reductions that we are making, will further enhance our already competitive mortgage product range.”
Matthew Fleming-Duffy, director at Bournemouth-based Cherry Finance, commented: “It has got to be applauded. It certainly puts them in the top couple of lenders in terms of the best-buy tables.
“Barclays are obviously looking to increase their market share. They are pretty good with retention, and their underwriting policy is pretty decent. It is a positive step.”
simon.allin@ft.com
