Barclays is set to reduce mortgage rates by as much as 38 basis points across a wide range of residential products from Friday, 11 April, with several fixed-rate deals now falling below the 4% threshold for the first time in months.
Among the most significant cuts is a 2-year fixed-rate mortgage at 60% loan-to-value with a £899 product fee, which will fall from 4.11% to 3.99%. A 5-year version of the same product is being reduced from 4.12% to 3.99%.
The bank’s 2-year fixed rate under the Mortgage Guarantee scheme—offered at 95% LTV and with no product fee—will decrease from 5.28% to 4.90%.
Barclays said the move was part of a broader campaign to make home ownership more accessible, referencing recent initiatives including zero-deposit mortgages for Right to Buy applicants, the launch of Mortgage Boost, and higher maximum loan sizes for high LTV purchases.
In total, more than 25 existing mortgage products will see rate reductions, spanning 2-, 3- and 5-year fixed terms, as well as Barclays’ Green Home and Springboard offerings. Most changes focus on mainstream and Premier residential products, with several now priced below the symbolic 4% level.
Premier customers will benefit from some of the most competitive pricing in the market, with a 2-year fixed deal at 60% LTV dropping to 3.98%, and a 5-year fixed alternative falling to the same level. Green Home options also see notable reductions, with the 5-year fixed deal at 60% LTV and £899 fee falling from 4.02% to 3.89%.
First-time buyers relying on higher LTV products are also expected to benefit. Barclays’ Springboard mortgage—targeted at those with little or no deposit—will see the 5-year fixed rate at 95% LTV reduced to 4.97%, while the 100% LTV version falls to 5.29%.
In addition to rate reductions, Barclays is expanding its product range with new Green Home options for borrowers with 85% LTV, introducing a 2-year fixed at 4.39% and a 5-year fixed at 4.26%, both carrying a £899 product fee.
