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Barclays overhauls mortgage range

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22/01/2014
Barclays has made sweeping changes to its mortgages, lowering the interest rates it charges on 20 deals.
Barclays overhauls mortgage range

The bank has cut rates on many deals including the cost of its two-year fixed rate for affluent borrowers which is lowered to 1.75% at 65% loan-to-value (LTV).

Barclays said this product is its lowest ever fixed rate product.

Elsewhere its standard two-year fix at 60% is cut to 1.85% and two of its two-year fixed rate buy-to-let products are reduced to 3.69%.

Barclays is introducing a new two-year product into its Great Escape remortgage range.

The mortgage will be available at 3.49% on loans up to 85% LTV although lower LTV products have seen rates increased. The lender has also increased rates on several of its longer term fixes.

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. Two-year fixed rates remain very popular, offering great value and we are pleased to be able to offer customers even better deals at an all-time low of 1.75%.

“In addition, we are introducing a new Great Escape product at 85% LTV, for borrowers with smaller deposits looking for a simple remortgage offer with no fees.”

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