Barclays re-introduces 85% LTV for purchases, remortgage and rate switches

Please be advised we are making further positive changes across our Residential and Reward ranges effective tomorrow, Friday 22nd May, 2020.

Following on from Monday where we confirmed that our property valuation partners have recommenced physical property assessments, we are now pleased to confirm the re-introduction of a selection of competitive new 85% LTV fee free two and five year fixed rates back into our Residential remortgage and purchase ranges.

In addition, we are also pleased to confirm further advances are now available up to 85% LTV for your existing Barclays mortgage customers through our Reward range. In addition, we are reducing rates by up to 0.11% on two of our existing 85% LTV fee free fixed rates.

Please be advised there are other changes to products within our ranges, including withdrawals and LTV changes. Please view our rate overview document for full details

Key product change highlights

  • New¬†2.05% Great Escape 2 Year Fixed, ¬£0 fee, 85% LTV, Min loan ¬£5k, Max loan ¬£1m
  • New¬†2.15% Great Escape 5 Year Fixed, ¬£0 fee, 85% LTV, Min loan ¬£5k, Max loan ¬£1m
  • Reduced¬†2.16% Reward range 2 Year Fixed, ¬£0 ¬†fee, 85% LTV, Min loan ¬£5k, Max loan ¬£2m ‚Ästreducing to 2.05%

Please view our new Intermediary and Reward range rate sheets.

Why chose Barclays for remortgage?

 

 

 

 

 

Key timings*

      • Existing products: Final date for generating a Mortgage Information Sheet (MIS *:¬†Thursday 21st¬†May, 2020
      • New products available:¬†Friday¬†22nd May, 2020
      • Last Rate Switch applications (Product Transfers):¬†Friday¬†22nd May, 2020
      • Last Further Advance applications:¬†Saturday 30th May, 2020

    *Applications on an existing product

    To qualify for a product, a MIS needs to have been generated, on or before the date of withdrawal (Thursday 21st May), either using our Barclays systems or your preferred sourcing tool. The application is also required to have been successfully submitted prior to the last application date – Friday 22nd May for product transfers and Saturday 30th May for all other products.

    Please be advised that upon withdrawal, the products will be removed from the dropdown options within our new lending application services. Therefore, you will need to ensure the product has been selected and saved in the application today