Barclays offering 1.44% two-year fix for mortgages between £5,000 and £3 million
Barclays has lowered the price of its leading two-year large loan purchase and remortgage rate.
It is fixed at 1.44% until 30th June 2017 and available to borrowers providing they have a 35% deposit. The overall cost for comparison is 3.6% APR.
After the fixed rate period the mortgage will revert to 3.49% over the Barclays base rate, currently 3.99%.
There is a £1,499 arrangement fee and the mortgage is available for loans between £5,000 and £3 million.
Aaron Strutt, product manager at Trinity Financial, says: “Barclays increased some of its lowest rates recently but they have come back down again.
“After initially tightening its affordability calculations and hiking rates there has probably been a reduction in applications, so they will hope these changes will drive more borrowers their way.
“If you are looking for additional payment security the bank has a large loan five-year fixed rate but it is 0.85% more expensive.”
Barclays will pay for the property valuation and legal fees for remortgages, helping to lower the cost of switching to a better deal.
Monthly repayments
If you wanted to borrow £750,000 over a 25 year term, the monthly payments on Barclays two-year fix would be £900 on interest-only or £2,978.43 on full capital repayment.
For help to secure a leading mortgage rate call Trinity on 020 7016 0790 or complete the form below.
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