New residential remortgage products

From 27th November, Barclays is introducing a selection of new residential remortgage products with some eye-catching rates:

• 2 year tracker at BBBR*+0.79 per cent at up to 60 per cent LTV (pay rate is 1.29%)

• 2 year fixed rate of 1.79 per cent at up to 70 per cent LTV

• 5 year fixed rate of 2.79 per cent at up to 70 per cent LTV

Each of these new remortgage products comes with a £999 application fee.


Residential Great Escape reductions

Those looking to save money on Barclays' Great Escape products can benefit from the following rate cuts - both available with no application fee, free legal work and valuation and £400 cashback to help cover the cost of their existing lender's exit fee:

• 2 Year Fixed Great Escape at 2.25 per cent at up to 70 per cent LTV (a reduction of 24bps)

• 5 Year Fixed Great Escape at 2.99 per cent at up to 70 per cent LTV (a reduction of 50bps)


Buy-To-Let benefits too

Barclays has also announced sizable rate cuts on two of its Buy-To-Let products for landlords:

• 5 Year Fixed at 3.99 per cent at up to 75 per cent LTV (a reduction of 50bps) - application fee £1999

• 5 Year Fixed at 4.49 per cent at up to 75 per cent LTV (a reduction of 40bps) - no application fee

Andy Gray, Managing Director of Mortgages for Barclays, said: "The lead up to Christmas is typically an expensive time for households - we wanted to do our bit to help people save money with the launch of some of the lowest residential remortgage rates in the market. As well as this, we are boosting the savings available on our Great Escape range and looking to help save landlords money too with cuts to our Buy-To-Let range.

"With Christmas looming, now is a great time for homeowners and landlords to review their mortgage to see if they could save money and reduce their monthly outgoings. For example, a client with a £150,000 mortgage balance moving from a market average SVR of 4.4 per cent to our 1.79 per cent 2 year fixed could save £3,914 over two years."

A summary of Barclays' full changes is below.

For further information on Barclays mortgages visitwww.barclays.co.uk/mortgages

House hunters can download the Barclays Homeowner app to find a dream home, calculate borrowing and for direct access to estate agents and mortgage specialists

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