Barclays has become the latest lender to make changes to its mortgage range.

It has cut rates on its most popular two, three and five-year residential fixed deals, together with launching a new 70% LTV two-year fixed rate.

In addition, Barclays is also reducing both 70% buy-to-let two-year fixed rates by 0.30 percentage points to 2.99%.

Andy Gray, managing director of mortgages at Barclays, said: “Confirming a fifth straight rate reduction is a strong demonstration of our commitment to providing home owners seeking certainty on their mortgage payments with access to a range of extremely competitive rates.

“We are anticipating demand for fixed rates to remain strong during the autumn months and we aim to help customers switching from an SVR of 4.4% on a mortgage balance of £150,000 to achieve some significant savings.

“Savings of over £3,600 could be achieved by opting for the new 60% LTV 2 year 1.94% fixed rate, with savings rising to over £5,800 achievable when switching to the new 60% LTV 5 year 2.99% fixed rate.”