Barclays has announced that it is reducing rates on a selection of products in its Residential Purchase ranges.

The changes are effective from tomorrow, Wednesday 8 May.

The rate changes are as follows:

Residential – Purchase Only

• 5.23% two-year fixed £899 product fee, 85% LTV, minimum loan £5k, maximum loan £2m, will decrease to 4.99%
• 5.57% two-year fixed £0 product fee, 85% LTV, minimum loan £5k, maximum loan £2m, will decrease to 5.18%
• 4.92% five-year fixed £899 product fee, 85% LTV, minimum loan £5k, maximum loan £2m, will decrease to 4.78%
• 5.13% five-year fixed £0 product fee, 85% LTV, minimum loan £5k, maximum loan £2m, will decrease to 4.95%