Mortgage News
Barclays joins fixed-rate mortgage pricing skirmish
Barclays has joined the pricing fray kicked off by Nationwide, Skipton and Coventry this week by cutting its most popular fixed rates.
As lender competition hots up, the changes to its two, three and five-year fixed rates go live today, alongside a 70% two-year fixed rate at 2.15% with a £999 application fee.
In the buy-to-let range, the lender is also cutting both 70% two-year fixed rates by 0.30 to 2.99%.
Andy Gray, managing director of Mortgages for Barclays, (pictured) said: “Confirming a fifth straight rate reduction is a strong demonstration of our commitment to providing home owners seeking certainty on their mortgage payments with access to a range of extremely competitive rates.
“We are anticipating demand for fixed rates to remain strong during the autumn months and we aim to help customers switching from an SVR of 4.4% on a mortgage balance of £150,000 to achieve some significant savings.
“Savings of over £3,600 could be achieved by opting for the new 60% LTV two-year 1.94% fixed rate, with savings rising to over £5,800 achievable when switching to the new 60% LTV five-year 2.99% fixed rate.”
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