"With continued demand for longer term fixed rates, our rate reductions announced today ensure we are offering a competitive products"
For purchase and remortgage, two-year fixed rates now start from 1.33% up to 60% LTV, 1.39% at 75% LTV and 1.57% up to 85% LTV, all with a £999 product fee.
Five-year fixed rates with a £999 fee have been reduced to 1.68% at 60% LTV, 1.73% at 75% LTV, 1.93% at 80% LTV and 1.96% up to 85% LTV.
For purchase only, five-year fixed rates with no product fee have seen reductions of up to 9bps. New rates start at 1.96% up to 60% LTV, 2.07% at 75% LTV and 2.20% at 85% LTV.
Highlights of the Help to Buy Scotland changes include two-year fixed rates at 1.60% up to 80% LTV with a £499 product fee or 1.80% fee-free.
London Help to Buy products have been reduced to 1.45% at 55% LTV with a £749 fee and 1.70% with no product fee.
Craig Calder, director of mortgages at Barclays, said: “With continued demand for longer term fixed rates, our rate reductions announced today ensure we are offering a competitive products and will help home buyers seeking certainty from a five-year fix mortgage.”
