Barclays has reduced residential purchase and remortgage rates for existing borrowers, with cuts of up to 36 basis points.
This includes the two-year fixed purchase only product at 60% loan to value (LTV) with an £899 fee, which has been cut from 4.95% to 4.6%, while the fee-free equivalent has been lowered from 5.15% to 4.79%.
At 75% LTV, Barclays’ Premier two-year fix with an £899 fee has been reduced from 5% to 4.73%, the standard option – also with an £899 fee – has fallen from 5.01% to 4.74%, and the fee-free option has been reduced from 5.21% to 4.93%.
Reductions have also been made to deals at 80% LTV, five-year fixed rates and its Green Home products.
Across its remortgage-only deals, Barclays has cut its two-year fix at 60% LTV with a £999 fee from 4.96% to 4.83%.
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The corresponding product at 75% LTV has been lowered from 4.98% to 4.9%, while the option at 80% LTV has gone down from 5.34% to 5.11%.
Reductions have also been made to its fee-free ‘The Great Escape’ remortgage deals.
Changes are effective from 22 April.
Skipton BS cuts rates and adds to resi range
Skipton Building Society has revised its mortgage offering with selected rate cuts and product launches across its residential range.
Changes apply from 22 April and include rate cuts of up to 0.27%, applied to its two-year fixes.
Skipton Building Society has also released two- and five-year fixed rates for existing residential borrowers, with fee options of £0, £995 and £1,495. It has also added two-year fixed buy-to-let (BTL) deals with similar fee structures.
Jen Lloyd, head of mortgage products and propositions at Skipton Building Society, said: “Following the reductions we made earlier this month we’re pleased to be able to cut rates further. While falling rates offer encouraging signs for the market, a degree of caution remains important.
“Conditions continue to be volatile amid ongoing global conflicts and broader economic uncertainty, and it’s too early to say whether this marks a sustained downward trend.”
She added: “Against this backdrop, recent easing in swap rates has enabled us to pass on additional savings through our mortgage pricing. This is a welcome development for existing homeowners and prospective buyers alike, providing some much‑needed relief and a potential boost for homebuyers at a time when affordability remains under pressure.
“We’ll continue to monitor developments closely and respond responsibly where we can.”
Market Harborough lowers rates and adds Discount Now, Fix Later option
Market Harborough Building Society has reduced selected fixed rates by up to 0.36% and released a ‘Discount Now, Fix Later’ option to its range.
Its two-year fixes have been cut by 0.36%, three-year fixes by 0.32% and five-year fixes by 0.28%.
Rates now start from 5.79% for fixed residential rates and 5.05% for discounted residential tier one cases with a £1,495 fee.
Across its residential large loan range, fixed rates start at 4.96% and discounted rates at 4.2% for loans between £3m and £5m.
Across its BTL tier one cases, fixed rates start at 6.2% and discounted rates at 5.46%, including top-slicing and lending into retirement as standard.
The Discount Now, Fix Later option gives borrowers the flexibility to choose a discounted rate while applying for a mortgage and make one switch to a fixed rate before completion, without paying the £299 product fee.
This is a limited-time offer, and the mutual’s discounted rates start from 4.2%.
Iain Smith, head of mortgage distribution at Market Harborough Building Society, said: “Waiving the product change fee and allowing a switch from a discounted rate to a fixed rate before completion is about giving brokers and their clients more control in a fast-moving market, removing cost barriers and making it easier to adapt.
“Today’s news reinforces our focus on delivering practical, award-winning solutions for a broad range of client needs, including those with more complex cases. As always, we’re keeping our partners fully informed every step of the way.”
