"The market is moving at a fast pace and we are committed to remaining nimble with our pricing to ensure we continue to provide would be homebuyers with our most competitive offering."
- A Barclays spokesperson
Barclays has announced a further round of rate cuts to its two and five-year fixed rate residential mortgage products.
Available from tomorrow, rates are reducing by up to 39bps.
The largest decrease is to a five-year fixed rate at 60% LTV, down from 4.78% to 4.39% with an £899 product fee.
Elsewhere in the five-year fixed rate range, 75% LTV products now start from 4.53% with an £899 fee and 4.70% fee-free, while 85% LTV rates have decreased to 4.92% with a fee and 5.03% fee-free. A 90% LTV five-year fix has also decreased by 25bps to 4.95% with a £999 fee.
In Barclays' two-year fixed rate range, rates now start from 4.76% at 60% LTV for a Premier product, 4.78% for a standard product with an £899 fee and 5.05% fee-free. At 75% LTV, rates start from 4.78% for a Premier product, 4.80% with an £899 fee and 5.12% fee-free. 85% LTV rates have reduced to 5.15% with a fee and 5.39% fee-free, while a 90% LTV two-year fix has decreased to 5.63% with no product fee.
Across the lender's Green Home range rates have reduced by 15bps, with two-year fixed rates down to 5.02% at 75% LTV and 5.53% at 90% LTV, both fee-free, and a five-year fix at 90% LTV decreasing to 4.85% with a £999 fee.
A Barclays spokesperson said: "The market is moving at a fast pace and we are committed to remaining nimble with our pricing to ensure we continue to provide would be homebuyers with our most competitive offering.
"With this in mind, in addition to the positive changes communicated on Monday, we are pleased to confirm we are again reducing rates on a selection of our 2 and 5 Year Fixed Residential Purchase Only products."
