Barclays has announced a wave of rate reductions across its residential mortgage range, with changes taking effect today.
A total of 32 products are being repriced, including a series of cuts to its two-year fixed deals, now positioned among the most competitive in the market.
The revisions span a wide range of loan-to-value brackets and borrower types, including purchase-only, remortgage-only, high-net-worth clients, and existing customers accessing the lender’s Reward range.
Among the headline reductions, the Premier two-year fixed at 60% LTV with a £899 product fee is falling from 3.88% to 3.75%. The standard equivalent, also at 60% LTV with the same fee, has been cut to 3.76%.
Options with no product fee are also coming down, with the fee-free 60% LTV two-year fixed reducing from 4.09% to 4.03%.
At 75% LTV, Barclays is cutting its Premier two-year fix from 4.04% to 3.92%, while the standard product with a £899 fee is falling from 4.05% to 3.93%. The fee-free option at this tier drops from 4.28% to 4.15%.
The bank’s green home mortgage range is also being repriced, with the 60% LTV two-year fixed with no product fee dropping from 3.99% to 3.93%. At 75% LTV, the same product is falling from 4.18% to 4.05%. Five-year green home fixes are being cut by up to 9 basis points.
Remortgage customers are also set to benefit. The Premier two-year fixed at 60% LTV with a £999 fee has been reduced from 3.83% to 3.78%, while the standard variant drops to 3.79%. The fee-free Great Escape product at 60% LTV falls from 4.14% to 4.03%.
In addition, Barclays is also applying cuts to large-loan products. The two-year fix for loans between £2m and £10m at 60% LTV with a £1,999 fee has been reduced from 3.89% to 3.79%. The equivalent five-year fix drops to 3.91%.
Existing customers will also see cuts, with rate reductions across the EMC Reward range. These include a two-year fixed at 60% LTV with a £999 fee, cut from 3.83% to 3.78%, and the £0 fee version reduced to 4.02%. Higher value deals within the Reward range, aimed at borrowers with loans of £2m and above, have also seen rate cuts of up to 10 basis points.