Barclays Mortgages is reducing rates across selected residential purchase, remortgage and existing customer products from Friday 29 May.
The changes include reductions across two-year, three-year and five-year fixed rate products, with cuts applying at a range of loan-to-value tiers.
For purchase borrowers, the largest reduction is on Barclays’ three-year fixed rate product at 95% LTV, with a £899 fee, which will fall from 5.85% to 5.42%.
At 60% LTV, the lender’s two-year fixed rate purchase product with a £899 fee will reduce from 4.60% to 4.39%, while the fee-free equivalent will fall from 4.79% to 4.64%.
Barclays is also cutting selected five-year fixed purchase rates. Its Premier five-year fixed rate at 90% LTV, with a £899 fee, will reduce from 4.94% to 4.75%, while the standard five-year fixed product at 90% LTV with a £899 fee will fall from 5.14% to 4.95%.
Green Home products are also included in the repricing. The two-year fixed Green Home product at 60% LTV, with no product fee, will reduce from 4.69% to 4.54%. The five-year fixed Green Home product at 90% LTV, with a £899 fee, will fall from 5.04% to 4.85%.
REMORTGAGE RATES REDUCED
For remortgage borrowers, Barclays is reducing its two-year fixed rate at 60% LTV, with a £999 fee, from 4.83% to 4.66%. The equivalent product at 75% LTV will fall from 4.90% to 4.73%.
The lender’s Great Escape two-year fixed remortgage product at 60% LTV, with no product fee, will reduce from 5.01% to 4.83%, while the 75% LTV version will fall from 5.07% to 4.99%.
Barclays is also reducing selected five-year fixed remortgage rates. Its five-year fixed rate at 60% LTV, with a £999 fee, will fall from 4.83% to 4.65%, while the Premier version will reduce from 4.80% to 4.62%.
EXISTING CUSTOMER CHANGES
Barclays is also cutting rates in its existing customer reward range.
The EMC Reward five-year fixed rate at 60% LTV, with a £999 fee, will reduce from 4.71% to 4.65%. The fee-free version at the same LTV will fall from 4.90% to 4.83%.
