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Barclays set to reduce residential mortgage rates

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  • 25/06/2015
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Barclays set to reduce residential mortgage rates
Barclays is reducing residential mortgage rates for two, three and five-year fixed rates from 26 June.

The reductions are for products between 70% and 90% loan-to-value (LTV). For example, the two-year fixed rate at 85% LTV will have a rate of 2.15%, down from 2.33%.

There are also some reductions on tracker products. A two-year tracker at 90% LTV will be reduced from 3.15% to 2.99%. A two-year “large loan” tracker with a minimum loan size of £1,000,000 at 70% LTV has been reduced from 1.89% to 1.67%.

Barclays is also introducing a selection of new residential remortgage products.

Andy Gray (pictured), managing director of mortgages for Barclays, said: “We know how important a low monthly payment is for borrowers and we are doing our bit to help people save money with the launch of some of the lowest residential remortgage rates in the market.

“This is another great example of Barclays helping more customers to achieve savings when buying a first home, remortgaging or those looking to take their next step on the property ladder.”

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