Barclays slashes rates by up to 0.25 per cent and brings out sub-one per cent deals

Barclays slashes rates by up to 0.25 per cent and brings out sub-one per cent deals

 

In its residential purchase range, the largest rate cut was applied to its five-year fixed rate at 90 per cent loan to value (LTV), which has fallen by 0.23 per cent to 2.72 per cent. It is subject to a £999 fee.

Barclays’ fee-free five-year fixed rate at 90 per cent LTV has fallen by 0.2 per cent to 2.88 per cent, whilst its fee-free five-year fixed rate at 85 per cent LTV has decreased by 0.16 per cent to 2.39 per cent.

The lender has reduced its five-year fixed rate green home mortgage product by 0.2 per cent to 2.78 per cent.

It has also made cuts to its Mortgage Guarantee Scheme products with its two-year fixed rate falling from 3.4 per cent to 3.15 per cent, and its five-year fixed rate going from 3.6 per cent to 3.45 per cent.

The lender has also brought in a two-year fixed rate product to its Mortgage Guarantee Scheme range, which has a rate of 3.45 per cent and £750 cashback.

In its family springboard range, which uses a family or friends’ savings to secure a mortgage for a separate borrower, its five-year fixed rate at 95 per cent LTV and five-year fixed rate at 100 per cent LTV have gone down by 0.15 per cent to 3.5 per cent and 3.7 per cent respectively.

On the remortgage side, its two-year fixed rate at 75 per cent LTV has been reduced by 0.13 per cent to 1.39 per cent, whilst its five-year fixed rate at 85 per cent LTV has been cut by 0.21 per cent to 2.44 per cent.

Its two-year fixed rate purchase and remortgage product at 75 per cent LTV has fallen by 0.06 per cent to 0.99 per cent, making it a sub-one per cent deal.

Its three-year fixed rate purchase and remortgage product at 85 per cent LTV has fallen by 0.3 per cent to 2.05 per cent and its five-year fixed rate has been cut by 0.19 per cent to 2.18 per cent.

Several products in the lender’s reward range, which covers product transfers and further borrowing, have been cut by up to 0.25 per cent.

The largest cuts have been made to its three-year fixed rate at 85 per cent LTV has gone from 2.3 per cent to 2.05 per cent and is subject to a £999 fee. Its fee-free option has also been by 0.25 per cent to 2.35 per cent.

The lender’s five-year fixed rate at 85 per cent LTV in its reward range has decreased from 2.65 per cent to 2.4 per cent.

Its two-year fixed rate at 75 per cent LTV in its reward range now stands at 0.99 per cent, which is a reduction of 0.06 per cent.

The lender has also removed its premier five-year fixed rate at 75 per cent LTV product, which had a rate of 1.25 per cent and a £599 fee.