Barclays announce fixed rate mortgage increase.
Barclays have recently announced various fixed rate mortgage increases made over a number of Woolwich mortgage products.
Barclays advise they took the decision to bring in fixed rate mortgage increases as part of their effort to manage demand.
Fixed rate products to be affected include:
The lender's 2 year fixed rate mortgage offered at 80 per cent LTV has risen from 3.48 per cent to 3.79 per cent with a £999 fee.
The lender's Great Escape 2 year fixed rate mortgage offered at 70 per cent LTV has risen from 3.74 per cent to 3.99 per cent.
The news is not all negative at Barclays though. As well as increasing some rates they have also launched some new mortgage products and have reduced their rates for two buy to let products by 0.1 per cent. The reduction on the lender's mortgage to let lifetime tracker for 60 per cent LTV means that the rate they now offer is base rate plus 3.3 per cent.
A spokesperson for Barclays commented on the changes advising that the bank continues to focus on providing well priced fixed mortgages in a competitive environment.
She added that other banks SVR increases have led to a rise in demand for Barclays / Woolwich fixed rate mortgage products. This increased demand has meant Barlcays have had to manage business levels in an effort to ensure good levels of service are met.
For details of Barclays and other lenders up to date fixed mortgage rates contact Deal Direct.
