Barclays has announced a series of mortgage rate cuts across its residential purchase and remortgage ranges, with the changes taking effect from Thursday 25 September.

The bank said the reductions are aimed particularly at supporting first-time buyers and those with smaller deposits.

The most significant adjustments include a cut to its 95% loan-to-value (LTV) five-year fixed rate, which will fall from 4.87% to 4.80% with no product fee. Its two-year fixed rate at 80% LTV, carrying an £899 fee, will drop from 4.05% to 3.98%.

A 95% LTV two-year fixed with no fee has also been reduced from 4.95% to 4.85%.

A number of other purchase products have been repriced. Among them, Barclays’ 90% LTV two-year fixed with an £899 fee will decrease from 4.34% to 4.28%, while the three-year fixed at 90% LTV with an £899 fee will fall from 4.64% to 4.58%.

The lender’s Green Home two-year fixed at 90% LTV will reduce from 4.43% to 4.38%.

Remortgage customers will also see reductions. The two-year fixed at 80% LTV with a £999 fee has been cut from 4.34% to 4.24%, while the Great Escape two-year fixed at 80% LTV with no product fee falls from 4.66% to 4.56%.

Barclays confirmed, however, that it will also be making “a limited number of increases” within its remortgage range.