Barclays to reduce mortgage rates from Tuesday including five-year deal at 3.96% [Yahoo! Finance]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Yahoo! Finance
The new five-year fixed-rate at 3.96%, reduced from 3.99%, is a Green Home mortgage, available to customers who are buying an energy-efficient new-build home directly from the builder or developer. Borrowers must have a 40% deposit and the deal has a £899 product fee. Other deals in the refreshed range include a two-year fixed-rate mortgage for borrowers with a 10% deposit, at 4.93%, with no product fee. Barclays has also increased the maximum loan amount for purchases of houses and flats with a 10% deposit as part of the shake-up. The cap for houses has increased from £570,000 to £640,000, while the cap for flats has increased from £275,000 to £310,000. Sian McIntyre, managing director of mortgages and savings at Barclays, said:
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