Barclays has cut mortgage rates by up to 0.26%.
Barclays’ cuts apply across the bank’s two-year fixed residential purchase and remortgage deals.
Highlights from the rate cuts include:
• A cut from 4.1% to 3.99% for residential purchases at 60% loan to value (LTV) with an arrangement fee of £899.
• A reduction from 4.3% to 4.12% for purchases at 75% LTV with an arrangement fee of £899.
• A cut from 4.54% to 4.28% for remortgages at 75% LTV with a fee of £999.
Darlington BS opens up 95% LTV range
Meanwhile, Darlington has made changes to its first-time buyer deals and criteria.
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Excluding London, first-time buyers nationwide can now access the 5% deposit range and apply for a higher loan amount.
The society has upped both its maximum loan for first-time buyers and the maximum loan it will advance at 95% LTV by £100,000. The change means first-time buyers can now borrow up to £500,000, while those with a 5% deposit are capped at £400,000.
Fees for first-time buyers have been scrapped and rates have been reduced by up to 0.35 basis points.
Meanwhile, for first-time buyers on a Skilled Worker visa borrowing up to 95% LTV mortgage, there will be no minimum time in the UK required.
Chris Blewitt, head of distribution at Darlington Building Society, said: “First-time buyers have been dealt some tough cards in recent years with rising interest rates, climbing house prices, and the wind-down of the government’s Help to Buy scheme.
“Darlington Building Society has always supported first-time buyers – as an early adopter of the Own New and Help to Build schemes – but even more innovation is needed in the current environment, which is why the society has today announced a modified first-time buyer offering.”
