Barclays will launch new residential loans and cut fixed rates by up to 46 basis points on Friday (21 February), while the Co-op has cut rates by as much as 82bps.
Barclays’ new products for existing customers include:
- Two-year reward fixes, with a £999 product fee, at 90% loan to value, at 5.01%
- Five-year reward fixes, with no product fee, at 90% LTV, at 4.75%
Barclays’ residential rate reductions for existing customers include:
- Two-year reward fixes, with no product fee, at 60% LTV, down by 17bps to 4.34%
- Five-year reward fixes, with no product fee, at 85% LTV, down by 30bps to 4.57%.
Barclays’ landlord rate reductions for existing customers include:
- Two-year reward buy-to-let fixes, with no product fee, at 75% LTV, down by 40bps to 5.05%
- Two-year reward BTL fixes, with a £1,795 product fee, at 75% LTV, down by 46bps to 4.55%
Meanwhile, the Co-operative bank for intermediaries has reduced its mainstream and BTL ranges for new business and retention by up to 82bps.
The lender’s changes cover:
New business — residential
- Selected remortgage two-, three- and five-year fixes down by up to 82bps
- Selected purchase two-, three- and five-year fixes down by up to 51bps
Retention — residential
- Selected two-, three- and five-year fixes down by up to 82bps
- Two- and five-year fixes down by up to 56bps
