Barclays to launch new deals and raise rates
Barclays is launching a number of new products tomorrow as well as increasing rates on a handful of deals.
The lender says it is now assessing applications within four working days and is increasing its case booking limits.
It comes after the lender came in for criticism from brokers on Friday when it brought a new cap of 4.49 times income, applying the criteria to applications that had been created but not submitted as well as to all new cases.
Barclays’ new rates for residential purchase and remortgage are as follows:
1.59 per cent two-year fixed £999 product fee, 75 per cent LTV
1.42 per cent five-year fixed £999 product fee, 60 per cent LTV
1.79 per cent five-year fixed £999 product fee, 75 per cent LTV
The minimum loan size for the above deals is £5,000 and the maximum is £5m.
Rates on the following reward deals for existing customers are increasing tomorrow:
1.34 per cent two-year fixed with £999 product fee at 75 per cent LTV will increase to 1.59 per cent
1.58 per cent five-year fixed with £999 product fee at 75 per cent LTV will increase to 1.79 per cent
1.18 per cent two-year tracker with £999 product fee at 70 per cent LTV will increase to 1.28 per cent