New remortgage incentive introduced by Barclays covers stamp duty.
A new fixed rate remortgage from Barclays allows home movers to recoup any stamp duty they have paid on purchases over £125,001.
Barclays are offering a cashback incentive of £1,250 on remortgages of up to £150,000. The product is a 5 year fix for up to 80% LTV with an interest rate of 2.69%.
The same terms are being offered on loans between £150,000 to a maximum of £500,000, however the cashback amount rises to £2,500. This will not cover the total cost of stamp duty on remortgages over £250,000 but it will, however, amount to a significant contribution.
A number of lenders have recognised that the amount of stamp duty payable on a new property could actually stand in the way of the purchase proceeding. This is why many of them have taken steps to incentivise home movers with a cashback offer.
Now is a very popular time to remortgage, as home owners take advantage of interest rates that have reached all-time low levels. The market is very competitive and there are extremely affordable deals to be had, that are not necessarily available on the high street.
If finding a remortgage solution that suits your requirements exactly is important to you, engaging the professional services of Deal Direct’s experts is a must. We have developed strong relationships with specialist lenders over the years and are very experienced in finding remortgage deals