Barclays cuts rates across more than 20 mortgage products

Barclays is cutting rates across more than 20 residential mortgage products from Wednesday 22 April, with reductions of up to 36 basis points (bps).

The changes span purchase and remortgage deals, with some of the lender’s lowest new rates focused on lower loan-to-value business.

Among purchase products, Barclays is reducing its two-year fixed rate at 60% LTV with an £899 fee from 4.95% to 4.60%, while its fee-free equivalent falls from 5.15% to 4.79%. At 75% LTV, its premier two-year fixed with an £899 fee will drop from 5.00% to 4.73%, while a standard £899 fee version moves from 5.01% to 4.74%.

Other cuts in the purchase range include the 75% LTV fee-free two-year fixed, down from 5.21% to 4.93%, and the 80% LTV £899 fee two-year fixed, down from 5.02% to 4.75%. The fee-free 80% LTV version will fall from 5.27% to 4.98%.

Barclays is also reducing a series of five-year fixed rates for home purchase. Its 60% LTV £899 fee deal will move from 5.00% to 4.76%, while the fee-free version drops from 5.08% to 4.86%. At 75% LTV, the £899 fee five-year fixed falls from 5.02% to 4.82%, while the fee-free alternative drops from 5.10% to 4.90%.

The lender’s 80% LTV fee-free five-year fixed purchase deal will also be cut, moving from 5.11% to 4.96%.

Its Green Home range is also being repriced. The two-year fixed fee-free product at 60% LTV is being reduced from 5.05% to 4.69%, while the 75% LTV equivalent falls from 5.11% to 4.83%. In the five-year range, the 60% LTV Green Home product with an £899 fee will drop from 4.90% to 4.66%, while the 75% LTV version falls from 4.92% to 4.72%.

For remortgage borrowers, Barclays is cutting its two-year fixed products with a £999 fee at 60%, 75% and 80% LTV. These will reduce from 4.96% to 4.83%, from 4.98% to 4.90%, and from 5.34% to 5.11% respectively.

The lender is also lowering rates across its Great Escape remortgage products. The two-year fixed fee-free deal at 60% LTV will fall from 5.20% to 5.01%, the 75% LTV option from 5.30% to 5.07%, and the 80% LTV product from 5.61% to 5.36%.