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Categories:Mortgages

Barclays relaunching 75% LTV B2L through brokers tomorrow

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Barclays is relaunching its 75 per cent LTV buy-to-let deals through brokers tomorrow and introducing a new ten-year fixed rate on its residential range.

Last week the lender launched its B2L 75 per cent deals through its direct channel, but from tomorrow it will re-introduce its products via brokers as well.

It is offering a two-year fixed rate up to 75 per cent LTV at 5.29 per cent and a two-year tracker up to 75 per cent LTV at base +3.99 per cent, also with a £3,999 fee.

It says it has listened to feedback around the fees and the products available through its direct and broker channel will now provide a tiered fee approach:

  • For deals between £50,000 and £125,000 the fee will be £1,999
  • Between £125,000 and £250,000 £2,999
  • Over £250,000 the existing £3,999 fee will remain

At the same time it is introducing a 10-year fixed rate at 70% LTV with a rate of 4.99 per cent and cutting its three-year fixed rate at 90 per cent LTV to 5.99 per cent.

Barclays head of mortgages Andy Gray 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.”

At the same time it is also adjusting some of its other price points to manage demand across its product mixes.  This it says is set against a backdrop of a series of economic indices surrounding the continued global and Eurozone uncertainty which have influenced funding across the market.

The two-year fixed rate at 70 per cent LTV which includes its Great Escape mortgage is increasing by 0.25 points from 3.49 per cent to 3.74 per cent and all its tracker and offset mortgages will increase by up to 0.21 percentage points.

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