Barclays Mortgages has announced rate reductions across its residential product ranges for customers purchasing and remortgaging properties, as well as deals for existing customers.

These changes will come into effect on Friday 3 September.

The bank’s range of fixed-rate and tracker products for residential mortgage applications will see reductions of up to 53bps– including rates available for customers looking to both purchase a new property or remortgage an existing one – as well as the introduction of a new 5-year fixed rate up to 75% LTV.

Some key products impacted by this change include:

• 1.38% two-year tracker, £999 fee, 60% LTV – reduced to 0.85%
• 1.79% two-year tracker, £0 fee, 60% LTV – reduced to 1.40%
• 2.05% two-year fixed rate, £0 fee, 85% LTV – reduced to 1.95%
• New 5-year fixed rate, £0 fee, 75% LTV – 1.52%