Customers looking for either short, medium or long term certainty for their mortgage payments can now do so with some of the lowest ever rates offered by the bank, particularly for borrowers with a 40% deposit.
Rates include a three year fixed rate at 2.29%, five year fixed rate at 2.85% and ten year fixed rate at 3.49%.
Andy Gray, Managing Director of Mortgages for Barclays, said:
“Last week saw a number of factors come into play that helped to reduce the cost of funding for mortgage lenders. Acting swiftly in response to the current economic conditions with a seventh straight rate reduction allows an opportunity to offer some of our lowest ever mortgage rates, continuing our commitment to give homebuyers and remortgagers access to ‘never seen before’ mortgage deals offered by Barclays.
“Our Family Springboard Mortgage has already helped thousands of First Time Buyers on to the mortgage ladder, and simplifying the Independent Legal Advice process helps us streamline this extremely attractive product.
“Swap rates, which impact funding costs for lenders tend to be volatile meaning the mortgage rates available to consumers can change. First-time buyers and homeowners currently have a fantastic opportunity to take advantage of competitive low fixed rates over the short, medium and long term. To avoid missing out, we are encouraging customers to move quickly and consider how they could benefit from our new rates, available for a limited time.
