Barclays cuts 2 year fixed mortgage rates but hikes 3 & 5 year fixes.
Barclays has announced that it is increasing certain rates within its 3 and 5 year fixed rate mortgage range.
Mortgage rates have risen by up to 0.09%. Its 3 year fixed 70% LTV mortgage is now available at 2.49% and its 5 year fix for the same LTV is available at 3.19%
While the lender has taken the decision to increase longer term fixes it has decided to reduce the cost of its more popular 2 year fixed rate mortgages.
New reduced rate mortgage highlights include:
- A 2 year fix for 60% LTV deal at 1.85%.
- A 2 year fix for 75% LTV deal at 2.25%.
Fees are set at £999 for new mortgage customers and £499 for existing customers.
In addition lower deposit mortgage rates have also been reduced.
Smaller deposit highlights include:
- A 2 year fix for 85% LTV deal at 3.29%.
- A 2 year fix for 90% LTV deal at 4.39%.
For smaller deposit customers looking to remortgage, Barclays has reduced its 2 year fixed Great Escape deal for 85% LTV which is now available at 3.49% fee free.
If you are looking to review the entire Barclays range to make a comparison against the wider market, contact an impartial adviser at Deal Direct. We can find you the best mortgage available for your deposit level.
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