Quantcast
Menu

News

Barclays launches 1.79% fix for larger loans

paulajohn
Written By:
paulajohn
Posted:
Updated:
06/11/2013

Barclays is poised to launch its lower-ever fixed rate mortgage for loans of

The two-year fixed rate, to be launched tomorrow, is aimed at ‘mass affluent’ borrowers looking for a mortgage of £500,000 to £2m. The deal is available up to 65% loan-to-value (LTV) and comes with a £1,999 fee.

At the same time, Barclays is trimming the rates charged on its other fixed deals. The new range includes a two-year fixed rate charged at 2.18% with a £999 fee, available up to 70% for loans up to £1m, and a two-year fix at 1.99% up to 60% LTV with a £999 fee.

In addition, the Great Escape remortgage range has been simplified with a reduced minimum loan of £50,000 introduced across the whole range, as well as rate cuts at 60%, 70% and 80% LTV.

Andy Gray, managing director of Mortgages for Barclays, said:

“We’re very pleased to continue our commitment to providing borrowers with access to lower rates.

“In addition we are cutting rates and reducing minimum borrowing size to just £50,000 across the whole Great Escape range, extending opportunities for borrowers looking for a simple remortgage offer with no fees,” he added.


Share: