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Barclays extends Great Escape mortgage range

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31/07/2013
Barclays has extended its Great Escape mortgage range and reduced rates on a number of other products.

The lender has launched a number of fee-free options for borrowers and made changes to its Great Escape remortgage range to allow loans of between £50,000 and £100,000.

These products include a two-year fix at 2.99% at 70% LTV and at 3.74% up to at 80% LTV. A five-year fix is available for 3.99%, also up to 80% LTV.

The four fee-free mortgages for house purchase include a two-year fix at 2.69% and a five-year equivalent at 2.99%.

Andy Gray, managing director of mortgages for Barclays, said: “The consensus is that we are approaching the bottom of the interest rate cycle, meaning fixed rates are providing incredibly good value at the moment, and handily coinciding with one of the busiest times of the year for remortgaging and house buying.

“The Barclays rate cuts and new offers give even more homeowners and buyers the chance to take advantage of the low rates, by extending the Great Escape remortgage offers to smaller loans, widening its appeal to customers sitting on standard variable rates and launching a range of purchase-only fixed rates at highly competitive rates with no fee.”

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