Barclays offering 1.79% tracker for mortgages up to £3 million
Barclays has launched an impressively low large mortgage loan rate.
Trinity Financial has access to the 1.79% two-year tracker, priced at 1.29% over the Barclays Bank Base Rate (BBBR).
At the end of the tracker period, the mortgage reverts to 3.49% over the BBBR, which is currently 3.99%. The APRC applicable on this loan is 3.68%.
Aaron Strutt, product manager at Trinity Financial, says: “Barclays is one of the most generous banks in the market at the moment, especially as it offers 5.5 times salary mortgages to clients earning more than £75,000 individually or £100,000 jointly.
“The bank also offers a switch-to-fix facility so borrowers can lock into a fixed rate at any time. This option will be useful when the Bank of England finally starts to raise rates.”
The 1.29% rate has a £999 arrangement fee and a 1% early repayment charge for the first two years. Applicants will need a 30% deposit to qualify and there is a minimum loan size of £1 million. The maximum loan is £3 million.
To secure a larger fixed or tracker rate mortgage, call Trinity on 020 7016 0790.
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