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Barclays and TSB latest lenders to cut mortgage rates

  • 26/11/2018
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Barclays and TSB latest lenders to cut mortgage rates
Competition among lenders for borrowers remains fierce, with a number of banks cutting rates as the year draws to a close.  

Barclays and TSB are both reducing rates on select deals.

Barclays is trimming costs on two-year fixed rates between 60 and 75% loan to value (LTV), as well on its five-year 60 LTV rate.

It means the lender will now offer a five-year fix of 2.04% at 60% LTV with a £999 fee.

Barclays is to also launch a 1.99% five-year fix of 1.99% for remortgages at 75% LTV.

The changes come as TSB has reduced rates by up to 0.35% on five-year mortgages up to 95% LTV.

The lender has also snipped up to 0.25% off two-year fixes for remortgages and up to 0.2% from two-year fixed for purchases.

It comes after Tesco, Investec and Nationwide last week trimmed rates.

Nick Smith, TSB’s head of mortgages, said: “The interest rate reduction on our fixed rate house purchase and remortgage products is a welcome step for those looking to fix their monthly payments for a longer period of time.

“TSB is committed to helping people to borrow well and this rate reduction is an example of us doing exactly that.”

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