Barclays is making changes to a selection of products within their Residential and Buy to Let new lending ranges, effective from today, Thursday 8th September 2022.
Changes to existing products
- Click to review the rate overview guide for full details of all products changing
With the anticipated demand for securing a current rate, they expect their case booking limit to be reached by mid-afternoon today. It’s important to remember that although this will prevent you from submitting applications that don’t have a booking within their systems today, it doesn’t preclude you from securing the current rates, ahead of them changing tomorrow.
Important reminder – You have nine days to submit an application on any existing product that is being withdrawn, provided you have completed the required actions detailed below.
Action required today to secure a rate:-
Generate a MIS
- You need to have a Mortgage Information Sheet (MIS) generated for the loan required on the required rate, dated (at the latest) yesterday – Wednesday 7th September 2022.
- Note – You can generate a MIS either using their Barclays systems or your preferred sourcing tool.
Select and save the rate
- You must also ensure you have selected and saved the required product within their application systems today, as it will not be available for selection from tomorrow.
Action required by last application date, Friday 16th September:-
Secure a case booking
- To successfully submit the application you will require a case booking in their application system and you have until Friday 16th September to book your case and submit it.
During this busy period, and to help them manage your customer’s applications, please do not contact them about your case via Livechat or phone if it has been submitted within the last five working days.
Please see their new Intermediary and Reward rate sheets, to view the full range of Barclays mortgage products, effective from tomorrow.
Reminder – Key product change timings
- Existing products: Final date for generating a Mortgage Information Sheet (MIS) is Wednesday 7th September
- Last new lending applications on new and existing customer lending products: Friday 16th September 2022