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Barclays to launch ‘best-ever’ five-year fix

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Barclays is introducing fee-free purchase products for residential and buy-to-let customers, while launching its lowest-ever five-year fix for Premier purchase and remortgage clients, from tomorrow.

For its fee-free purchase-only products at 75% and 80% loan-to-values (LTV), Barclays will offer £250 cashback and free valuations. Products in the range include a two-year fix at 1.95% and 80% LTV, with a minimum loan size of £50,000 and maximum of £250,000.

Barclays is also launching a fee-free range for buy-to-let borrowers, which includes a two-year fix at 65% LTV and two-year tracker at 75% LTV, available at 2.59% and 2.89%, respectively.

Recent data published by Moneyfacts showed that the number of fee-free deals on fixed rate mortgages has more than doubled over the past year.

For Premier customers, Barclays has introduced its ‘best-ever’ five-year fixed rate at 1.83% and available up to 70% LTV. The deal has a fee of £1,499 and a minimum loan size of £5,000 with a maximum of £1.5m.

Existing mortgage customers will be able to access the product up to 80% LTV in Barclays’ Reward range which is available exclusively for rate switch and further advance.

Further changes include increases to Barclay’s seven and 10-year fixed rates, with rate rises in its Reward Range increased by up to 20 basis points.

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