Barclays announces return of 75% mortgage products
Barclays will reintroduce a selection of remortgage deals at 75 per cent of the property’s value, with rates starting from 1.44 per cent from Wednesday 8th April.
The bank withdrew all products above 60 per cent loan to value (LTV) on 25th March after it had been forced to close two international underwriting sites because of the coronavirus outbreak.
It now has four remortgage deals available at 75 per cent LTV;
• 1.44 per cent, two-year fix with £999 product fee
• 1.64 per cent, five-year fix with £999 product fee
• 1.54 per cent, two-year offset tracker with £1,749 product fee
• 1.95 per cent, Great Escape two-year fix with £0 product fee.
A Barclays spokesperson said: “In recent weeks we have made several changes to our product range due to the ongoing challenges with the Covid-19 outbreak to allow us to manage our teams’ capacity and dedicate more resource to supporting customers at this difficult time.”
Barclays has also increased some of its tracker rates by up to 0.40 per cent. Two trackers priced at 1.50 per cent for two years and 1.75 per cent for five years both at 60 per cent LTV have been withdrawn.