Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Barclays and Clydesdale Announce Increases to Selected Mortgage Rates

Barclays and Clydesdale have increased rates on a range of mortgage products, including buy-to-let, residential, remortgage, and product transfer deals. The changes affect both new and existing customers, with most rate rises ranging from 0.07 to 0.14 percentage points at Barclays and up to 0.23 percentage points at Clydesdale.

Barclays has raised rates on 79 mortgage products in total. The largest increases, at 0.14 percentage points, apply to many residential purchase and Green Home mortgages. Tracker products at Barclays generally see rises of 0.1 to 0.11 percentage points.

For residential purchase fixed rate mortgages at Barclays, several two-year and five-year fixes across 60-90% loan-to-value (LTV) bands have increased by up to 0.14 percentage points. Notable changes include the two-year fixed residential purchase mortgage at 60% LTV with an £899 fee, which is increasing to 4.63% from 4.49%, and the two-year fixed residential purchase mortgage at 75% LTV with an £899 fee, which is increasing to 4.88% from 4.74%. The five-year fixed residential purchase mortgage at 60% LTV with an £899 fee is rising to 4.67% from 4.53%. The Green Home five-year fixed mortgage at 60% LTV with an £899 fee is increasing to 4.57% from 4.43%.

Barclays’ two-year fixed residential remortgage at 60% LTV with a £999 fee is increasing to 4.78% from 4.68%. For buy-to-let (BTL) products, the two-year fixed BTL purchase mortgage at 60% LTV with an £899 fee is increasing to 4.72% from 4.65%, and the five-year fixed BTL remortgage deal at 60% LTV with no fee is increasing to 4.86% from 4.79%.

Clydesdale has increased its core residential product transfer rates, with selected two- and five-year fixed rate products rising by up to 0.23%. The lender has withdrawn its two- and five-year fixed rate products for loans over £600,000 at 90% LTV. For two- and five-year fixed rate products with a £499 fee at 90% LTV, the maximum loan size has increased to £1 million.

These changes may impact letting agents and inventory clerks working with landlords and tenants who are considering new mortgage deals or remortgaging existing properties.