BM Solutions and TSB also adjust pricing
Major lender Barclays is set to reduce rates on several of its residential and green home mortgage products, with the changes taking effect from tomorrow, June 25.
The rate cuts apply to both purchase and remortgage deals, offering lower pricing for borrowers at key loan-to-value (LTV) tiers.
Among the updates, the bank has cut its premier two-year fixed rate at 60% LTV with a £899 product fee from 3.96% to 3.88%. Another two-year fixed deal at the same LTV and fee has also dropped, moving from 3.97% to 3.89%.
Green mortgage products are also being revised. The two-year fixed green home mortgage at 60% LTV with no fee has been reduced from 4.10% to 3.99%, while the five-year fixed green home product at 90% LTV with a £899 fee will fall from 4.57% to 4.32%.
In the remortgage segment, the high street lender has lowered its premier two-year fixed rate at 60% LTV with a £999 fee from 3.97% to 3.90%. A similar two-year fixed remortgage deal with the same LTV and fee has been cut from 3.98% to 3.91%.
All of these products come with minimum loan amounts of £5,000 and a maximum of £2 million.
BM Solutions, the buy-to-let brand of Lloyds Banking Group, is also adjusting its rates, with reductions of up to 0.24% across selected buy-to-let and let-to-buy products.
A key change includes its two-year BTL purchase fixed rate at 65% LTV, with a 3% fee, now priced at 2.99%. Its five-year BTL remortgage fixed rate at 65% LTV, with a 1% fee, has been cut from 4.43% to 4.19% — a drop of 24 basis points.
Meanwhile, TSB has lowered pricing on a range of residential products, including shared equity and shared ownership loans. Two- and five-year fixed rates for first-time buyers and home movers have been cut by up to 0.30%.
Additionally, three-year fixed rates at 0% to 90% LTV have seen reductions of up to 0.15%, while two-year fixed deals at 75% to 90% LTV are now up to 0.10% cheaper.
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