As Barclays’ variable rate mortgage products track Bank of England Base Rate (BEBR), from today, the rate for new mortgage customers will be 0.50% and for existing Barclays tracker mortgage customers the new rate will come into effect from Tuesday 1st March 2022.
Barclays’ stressed affordability rate for Residential lending and background Residential lending on Buy to Let will increase in line with BEBR.
They can confirm that Standard Variable Rate (SVR) will follow the increase in BEBR and existing SVR mortgage customers will see the rate increase of 0.25% come into effect from Tuesday 1st March 2022.
New Standard Variable Rates from Tuesday 1st March 2022 are: –
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- Residential mortgages SVR 4.99%
- Buy to Let mortgages SVR 5.49%
Their rate sheets and affordability calculators on their intermediary website will be updated in due course.