They also plan to extend the end dates for all residential and buy to let fixed rate products by three months.
In response to the Stamp Duty reforms, Barclays is also waiving the £150 product switching fee for pipeline transactions between now and the end of January 2015.
Andy Gray, Managing Director of Mortgages for Barclays, said:
“Christmas can often be an expensive time of year and the changes we are making are designed to help customers save money, whether they are homebuyers or homemovers. Introducing these new rates and waiving the £150 product switching fee will benefit our customers and may help to ease the financial burden involved in buying and moving house.”