Brokers face new deadlines amid product overhaul
Barclays Bank UK PLC (Barclays) and National Westminster Bank Plc (NatWest) have announced changes to their mortgage product ranges, with updates affecting new and existing borrowers through intermediary channels.
Barclays updates rates
“From tomorrow, Tuesday 17 February, we are changing rates on a selection of products in our residential purchase and remortgage ranges,” Barclays stated. “This change includes increases, decreases, and withdrawals.”
Several higher loan-to-value (LTV) residential purchase products will see reductions. Among them, the 2-year fixed Premier deal at 95% LTV with no product fee will fall to 4.55% from 4.87%, while the standard 2-year fixed at 95% LTV with no fee will reduce to 4.60% from 4.92%. A 3-year fixed at 90% LTV with a £899 fee will decrease to 4.38% from 4.48%, and a 5-year fixed Premier product at 95% LTV with no fee will move to 4.66% from 4.76%.
However, a broad range of lower LTV products will increase. Two-year fixed rates at 60% LTV will rise by 0.05 percentage points across fee and no-fee options, including a £899-fee deal increasing to 3.70% from 3.65%. At 75% and 80% LTV, 2-year and 5-year fixed products will also see rises, typically of 0.05 to 0.11 percentage points.
At higher LTV bands, 5-year fixed rates at 90% LTV with a £899 fee will increase to 4.36% from 4.17%, while equivalent no-fee options will climb to 4.44% from 4.25%. Selected Green Home products across 60% to 90% LTV will also rise by between 0.05 and 0.19 percentage points.
In the remortgage-only range, increases apply to 2-year and 5-year fixed deals at 60% to 80% LTV, including The Great Escape™ products, with changes generally of 0.05 percentage points.
Barclays also confirmed the withdrawal of certain products, including a 2-year tracker at 60% LTV with no product fee, available for both purchase and remortgage.
Full details are available on its website. The bank outlined key deadlines for brokers ahead of product withdrawals.
“Please be advised that upon withdrawal, the products will be removed from the dropdown options within our application services,” the lender said.
For new lending cases, Barclays stated that the “Mortgage and product details” section must be completed and a Mortgage Illustration (MIS) generated in its system on or before 16 February, the date of withdrawal.
The bank added: “Don’t forget, once the product has been recommended for new lending, you have a further nine days from withdrawal until the last application date (Wednesday 25 February) to gather all requirements and submit your fully-packaged case.”
For product transfers, Barclays said the product must be selected and the application submitted on or before 17 February.
NatWest announces rate reductions
NatWest announced mortgage rate adjustments effective Feb. 12 and Feb. 17, 2026, maintaining its base rate at 3.75%. The changes affected both new and existing customers across residential and buy-to-let products.
For existing customers, the Feb. 17 rates showed modest reductions in select categories. The two-year fixed rate at 90% loan-to-value decreased from 4.90% to 4.86% with no product fee, while the five-year fixed option remained unchanged at 4.44%.
New customers saw more significant changes in buy-to-let products. Two-year fixed purchase rates at 60% LTV dropped from 4.02% to 3.99% with a £995 fee. Buy-to-let remortgage rates at 60% LTV fell from 4.02% to 3.90% with the same fee structure. Five-year fixed remortgage rates at 60% LTV declined from 4.08% to 3.99%.
The lender also reduced rates on 95% LTV purchase products, with two-year fixed rates dropping from 4.81% to 4.69% and five-year fixed rates decreasing from 4.81% to 4.75%.
The full details, including transitional arrangements, are available on its products news page, alongside a downloadable PDF of the updated range.
NatWest also confirmed application cut-off times for existing deals. “You’ll be able to produce Mortgage Illustrations and submit applications online for existing deals up to 10:30pm on Monday 16th February,” it said.
From 17 February, brokers would be able to view new Existing Customer and Additional Borrowing deals via the Broker Portal, the lender added.
