Barclays is raising rates on a number of products including high loan-to-value deals by up to 25 basis points in a bid to manage demand.
In an email to brokers the lender says that its initial allocation of funding for the day was used up earlier, but that it was releasing a limited amount of additional funding at 2.15pm on a first-come first-served basis.
The following residential purchase rate will increase tomorrow:
- 2.95 per cent five-year fixed, £0 fee, 85 per cent LTV, loans £5,000 – £2m increasing to 3.2 per cent
The following purchase and remortgage rates will also rise:
- 1.42 per cent five-year fixed, £999 fee, 60 per cent LTV, loans £5,000 – £5m increasing to 1.65 per cent
- 1.98 per cent five-year fixed, £999 fee, 80 per cent LTV, loans £5,000 – £2m increasing to 2.24 per cent
Mortgage information sheets for the products that are being withdrawn must be submitted today, but brokers have until October 9 to complete applications so long as they have a successful case booking.
