Barclays cuts five-year fixes again as lender pushes for market-leading position

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Barclays is making further reductions across its residential mortgage range, with five-year fixed rates falling by up to 30bps from tomorrow, 18 November.

The latest cuts take its pricing to what the bank believes are market-leading levels across several loan-to-value tiers.

The most notable reductions include its 90% LTV five-year fixes, where the £899-fee product will fall from 4.44% to 4.27%, and the fee-free equivalent will reduce from 4.65% to 4.35%. At 60% LTV, the five-year fix with a £899 fee will drop from 3.98% to 3.82%, while the fee-free option will move from 4.09% to 3.92%.

The lender is also adjusting Premier products and its Green Home range, with pricing improvements at every LTV from 60% to 90%.

The changes apply to purchase business only and are the latest sign of intensified competition among high-street lenders as swap rates settle and expectations build ahead of the government’s Budget.

Rates at 75% and 80% LTV have also been trimmed, including a shift from 4.05% to 3.90% on the 75% LTV £899-fee product, and from 4.28% to 4.08% at 80% LTV for the fee-free alternative. At higher LTVs, the bank has retained maximum loans of £640,000 at 90% and £570,000 at 95%.

Barclays has also made reductions across its Green Home five-year fixes. The 60% LTV product will drop from 3.88% to 3.72%, with similar adjustments at 75%, 85% and 90% LTV.

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