Barclays launches new residential rates from 3.75%

Barclays has announced updates across its mortgage ranges, with two new products introduced and rate cuts to 38 products covering residential purchase, existing customer reward and buy-to-let.

A new two-year fixed rate residential purchase product has launched at 3.75%, available up to 85% LTV with an £899 fee, while a Premier remortgage-only two-year fix has launched at 4.19%, available up to 85% LTV with a £999 fee.

In Barclays' existing residential range, purchase rates have decreased by up to 0.35% at 85% and 90% LTV.

Two-year fixed rates at 85% LTV now start from 3.97% for a Premier product with no fee and 4.02% for the standard fee-free rate. 90% LTV two-year fixes start from 4.15% for a Premier £899 fee product, 4.20% for the standard £899 fee product, and 4.40% fee-free.

A three-year fix at 90% LTV has reduced by 20bps to 4.48% with an £899 fee.

Five-year fixed rates at 90% LTV are also down by 20bps, starting from 4.12% in the Premier range, 4.17% with an £899 fee, and 4.25% fee-free.

Green home products have also seen reductions of up to 25bps at 85% and 90% LTV.

For existing customers, the Barclays reward range will see rate reductions of 30bps for one-year fixed rates with no product fee, now starting from 4.48% at 60% LTV, 4.69% at 75% LTV, and 5.09% at 90% LTV.

Two-year fixed reward rates have reduced by up to 33bps and now start from 4.09% at 85% LTV, 4.48% at 90% LTV, and 4.99% over 90% LTV.

Five-year reward rates at 90% LTV and over have reduced by 0.10%.

In the bank's buy-to-let range, reward rates have reduced by 0.10% across 13 products.