Barclays is making cuts to 19 products across its residential and buy-to-let products – by as much as 0.13 per cent.
It is cutting 15 residential mortgages for purchases and remortgages on two-, three-, five- and ten-year products at a range of loan to values (LTVs).
Examples of the changes which go live tomorrow include:
A two-year fix for purchase and remortgage at up to 60 per cent LTV with £999 fee cut to 1.28 per cent from 1.33 per cent,
A five-year fix for purchase at up to 75 per cent LTV with no fee cut to 1.94 per cent from 2.07 per cent.
Four buy-to-let deals are being cut – three for purchase and remortgage, one for purchase only.
The lender has also withdrawn the residential Premier three-year fix for purchase and remortgage at 75 per cent LTV at 1.69 per cent.
Barclays director of mortgages Craig Calder (pictured) said: “The reductions we have announced today will ensure we continue to offer a highly competitive fixed rate range that provides certainty of payments and helps more hard working first time buyers and those choosing to remortgage.”
Leeds Building Society
Leeds BS is reducing rates on its 95 per cent LTV mortgages by up to 0.45 per cent.
The no-fee 3.34 per cent five-year fixed rate mortgage, which will launch on 30 August, comes with a free standard valuation and £500 cashback.
Tapered early repayment charges apply for the five-year period and 10 per cent over payment is allowed each year.
Matt Bartle, director of products at Leeds Building Society, said: “This latest deal will assist home buyers with smaller deposits, so it’s ideally suited to people looking to take the first step onto the property ladder.
“We have also added a £500 cashback incentive, which is always popular with first-time buyers as it can help with some of the unexpected costs which inevitably crop up when you move into your first home.”