Barclays offer new product range that customers can benefit from

Barclays bank recently made the announcement that homeowners and businesses are going to be able to benefit from a new range of lending products which are particularly good value.

The bank are going to be offering new products to its small and medium-sized enterprise customers and one of these is going to include a cashback injection of cash on loans that are given, of about two percent. The idea behind this product is that it is going to give an immediate boost to the cash flow of businesses who take advantage of the loan.

The product is being called Cashback for Businesses and it is part of the loan system that has been organised under the National Loan Guarantee Scheme which is valued at £1.5 billion. This scheme has now been fully utilised and this is due to a very strong demand that has been seen from customers. These cashback loans are continuing to be offered under a new scheme, the Funding for Lending Scheme.

Barclays is also shortly due to lower the rates that are seen on its fixed rate mortgages by around a third of a percent. This is going to make their mortgage rates very competitive and a two year fixed mortgage is going to be available for just over three percent.

This is not just good news for people who are taking out short-term mortgages with a large deposit however, and those unable to afford a large deposit are also going to benefit from a reduction in rates, although it is going to be of smaller amounts.