The changes ‒ which come into effect from tomorrow ‒ apply to those buying and remortgaging properties, and for new and existing customers.
In Barclays’ Help to Buy range, its two-year fixed rate at 75 per cent loan to value (LTV) with a £749 fee will see its rate drop from 1.59 per cent to 1.21 per cent.
Its fee-free product at the same LTV band will move from 1.8 per cent to 1.44 per cent, whilst its five-year fixed rate with no fee has decreased to 1.56 per cent from 1.85 per cent.
On its normal residential range, Barclays’ two-year fixed rate at 60 per cent LTV has fallen to 0.86 per cent from 0.92 per cent, and its five-year fixed rate at 80 per cent LTV has gone from 1.83 per cent to 1.75 per cent.
Alongside the rate cuts, Barclays is also launching a five-year fixed rate for portfolio landlords, available for both purchase and remortgage. It is set at two per cent and is available up to a maximum LTV of 75 per cent, and boasts a £2,495 fee.