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

Barclays to Increase Residential Mortgage Rates, Cut Some Buy-to-Let Rates

Barclays is set to increase residential mortgage rates by up to 34 basis points from tomorrow, while also reducing some buy-to-let rates. Coventry Building Society and Gen H are also raising their mortgage rates this week.

Barclays' largest increases will affect residential rates within its existing customer reward range. For example, a five-year fixed mortgage at 90% loan-to-value (LTV) with no fee will rise by 34 basis points, moving from 5.16% to 5.5%. A five-year fixed rate switch-only product at 70% LTV with a £1,999 fee will increase by 30 basis points, from 4.77% to 5.07%. The two-year alternative with the same fee will rise by 27 basis points, from 4.62% to 4.89%.

In contrast, Barclays will lower some buy-to-let rates. A buy-to-let two-year fixed Premier purchase product at 60% LTV with an £899 fee will decrease by 15 basis points, from 4.7% to 4.55%. The standard buy-to-let two-year fixed purchase product at 60% LTV with an £899 fee will also drop by 15 basis points, from 4.8% to 4.65%. The Green Home buy-to-let two-year fixed at 60% LTV with an £899 fee will reduce by 15 basis points, from 4.7% to 4.55%. Additionally, a buy-to-let two-year fixed purchase and remortgage product at 60% LTV with a £2,495 fee will decrease by 13 basis points, from 4.8% to 4.67%.

Coventry Building Society has notified brokers that all fixed rates will rise on Friday, but has not yet specified the amount of the increase. Gen H is increasing prices by up to 19 basis points at close of business today.

These changes may impact letting agents and inventory clerks who work with landlords and property investors, as mortgage rate adjustments can influence buy-to-let activity and affordability.