Barclays relaunch their 2 year best mortgage fixed rate for buy to let borrowers
Barclays are relaunching their 2 year best mortgage fixed rate for buy to let borrowers at 75 per cent LTV, the buy to let deal will now be available through mortgage brokers.
The lender also plans to introduce a new 10 year best mortgage fixed rate product on its residential range. Earlier the lender launched its buy to let 75 per cent LTV deals through its direct channel but is now re-introducing its products through brokers as well.
Andy Gray, head of mortgages for Barclays says: “Today’s mortgage changes are about boosting the availability of buy-to-let and providing competitive longer term deals in the residential mortgage market with the launch of a 10 year deal to support borrowers who are worried about the long term base rate outlook.”
The lender is also adjusting some of its other price points to manage demand across its product range. It says it has listened to feedback on fees and products available through its direct and broker channel and will now provide a tiered fee approach. For deals between £50,000 and £125,000 the fee will be £1,999, for deals between £125,000 and £250,000 the fee will be £2,999 and over £250,000 the existing £3,999 fee will remain.
It is offering a 2 year fixed rate up to 75 per cent LTV at 5.29 per cent and a 2 year tracker up to 75 per cent LTV at base +3.99 per cent. At the same time it is introducing a 10 year best mortgage fixed rate at 70 per cent LTV with a rate of 4.99 per cent and cutting its 3 year fixed rate at 90 per cent LTV to 5.99 per cent.
