Barclays cuts mortgage rates by up to 0.43%

Barclays

The lender said that it had reviewed its offering against “market funding conditions” and its mortgage rate changes come into effect from tomorrow

High street lender Barclays will reduce mortgage rates by up to 0.43 per cent across its residential, BTL purchase and remortgage ranges along with its reward ranges.

The lender said that it had reviewed its offering against “market funding conditions” and its mortgage rate changes come into effect from tomorrow.

Within its residential range, select standard, premier, green home and mortgage guarantee scheme products will be slashed.

An example includes its two-year fixed rate at 60 per cent LTV with the £899 fee dropping to 4.62 per cent and its fee-free version going down to 4.76 per cent.

In its remortgage-only range, selected premier, standard and great escape products have been slashed.

Its two-year fixed no-fee great escape product at 60 per cent loan to value will drop to 4.81 per cent and at 75 per cent loan to value, the product will drop to 4.92 per cent.

On the purchase and remortgage side similar cuts have been made, with its two-year fixed rate at 60 per cent loan to value with £1,999 fee declining to 4.8 per cent.

In one example, its two-year fixed rate purchase-only product with £1,295 fee at 75 per cent loan to value will drop to 6.18 per cent.

Its fee-free remortgage product at 60 per cent loan to value will drop to 6.3 per cent and its two-year fixed rate with £2,495 fee at the same loan to value will come to 6.3 per cent as well.

In its rewards ranges, residential and BTL products have been cut. This includes its residential EMC reward one-year fixed rate with no fee at 60 per cent loan to value offered at 4.81 per cent.

Its buy-to-let EMC reward two-year fixed rate with no fee at 65 per cent loan to value will drop to 6.15 per cent.

The lender previously reduced rates at the beginning of December, with the cuts applying to residential purchase-only products.

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