Barclays Offer Exclusive 3-Year Fixed Rates up to £2 Million Through PRIMIS

Barclays have launched exclusive 3-year fixed rate mortgages through PRIMIS network for a limited period. Which are available for both purchasing and remortgaging of loans up to £2 million.

Barclays, like many other lenders, is trying to bring back life into the mortgage market. This is great for borrowers, who are either looking to purchase or remortgage in today’s climate.

• Purchasing, 3-Year Fixed, 75% LTV at 5.32%
• Remortgaging, 3-Year Fixed, 75% LTV, 5.45% with £350 cashback, a free valuation and legal services (registered land only) included.

It is possible with Barclays, to obtain the maximum 5.5x income multiple, provided the household combined gross income is over £100,000 (two earners) or a single earner with an income of over £75,000.  However, there are other factors that will need to be considered based on individual circumstances.

An example of Barclays’ exclusive purchase rates:

For purchasing a property with a mortgage of £500,899 payable over 30 years, the interest rate will be fixed at 5.32% for 31st December 2026, it will then follow a variable rate at 3.49% above the Bank of England base rate (currently 5.25%) for the remaining 27 years. The initial monthly payments would be £2,787.74 for the first 38 months, then £3,849.73 monthly for the remaining 262 months. The total amount repayable would be £1,345,662.18, which includes initial loan, the interest payable £847,647.16, £899 (product fee), £80 (mortgage discharge fee). The overall cost for comparison is 8% APRC representative.  

An example of Barclays’ exclusive remortgage rates:

For remortgaging a property with a mortgage of £500,999 payable over 30 years, the interest rate will be fixed at 5.45% until 31st December, it will then follow a variable rate at 3.49% above the Bank of England base rate, (currently 5.25%) for the remaining 27 years. The initial monthly payments would be £2,828.92 for the first 38 months, followed by £3,854.66 monthly for the remaining 262 months. The total amount repayable would be £1,348,464.48, which includes initial loan, the interest payable £847,700.80, £999 (product fee), £80 (mortgage discharge fee). The overall cost for comparison is 8.1% APRC representative. Upon completion there is £350 cashback.

So how can Brooklyns Financial help?

Brooklyns Financial also has access to lenders who offer two, five and ten-year fixed rates less than 5%. In addition to tracker rates priced from 0.14% over the Bank of England base rate.

We will advise you on the options available that are bested suited to you. We are here to help you every step of the way Just give us a call 01628 564631 or email us info@brooklynsfinancial.co.uk for an initial chat?

Your mortgage is secured on your property.  Your home may be repossessed if you do not keep up repayments on your mortgage.

The information contained within was correct at the time of publication but is subject to change.

Source: Barclays