The key reductions are a drop of 0.30 percentage points on the Future Fix mortgage for borrowers with a 30% deposit or equity. The tracker element drops to base + 2.49% for two years, the three year fixed rate remains at 3.99% following the cut two weeks ago. This comes with a £999 application fee.
The lender is also reducing the 60% LTV two year fixed rate mortgage from 3.09% to 2.89%. This rate is offered with a standard £999 application fee and £499 for customers who qualify for a Barclays loyalty mortgage.
Andy Gray, head of mortgages at Barclays, said: “This is the second time in less than a month that we have made cuts to our mortgages and is due to a highly competitive market with lenders making several reductions in the last few weeks.
“This is great news for borrowers who are getting access to some really low rates. We would encourage people to act now and review their mortgage to see if they stand to save money by remortgaging.
