The reductions from Barclays apply to its five-year fixed existing mortgages for purchase, such as a five-year fix at 60 per cent loan to value (LTV) where the rate has gone down from 4.39 per cent to 4.09 per cent. This product has a £899 fee.
At 75 per cent LTV, the corresponding product has been reduced from 4.53 per cent to 4.23 per cent, while at 85 per cent LTV, the equivalent deal has had a rate reduction from 4.92 per cent to 4.62 per cent.
Barclays has also reduced the rate of its fee-free five-year fix at 55 per cent LTV, from 4.7 per cent to 4.4 per cent, as well as the option at 85 per cent LTV which has gone down from 5.03 per cent to 4.73 per cent.
It has also made cuts to a green mortgage, premier deal and its mortgage guarantee product.
Barclays rate increases
Barclays has raised rates across its one and two-year fixes for existing borrowers who are purchasing or remortgaging by up to 0.3 per cent.
This includes the two-year fix at 60 per cent LTV with a £899 fee, which is now 4.39 per cent up from 4.09 per cent as well as the equivalent at 75 per cent LTV which has risen by the same amount to 4.6 per cent.
The bank has also hiked rates across its customer reward range, select premier products, green mortgages and its mortgage guarantee deal.
Skipton BS makes several rate cuts
Skipton Building Society has reduced rates across 40 of its mortgages, which will be effective from 31 January.
Rates will be cut by as much as 0.46 per cent, with the biggest reductions being made to its five-year fixed buy-to-let product at 75 per cent LTV. This has a £2,995 fee and the rate has gone down from 4.95 per cent to 4.49 per cent.
The mutual has also relaunched its two-year fixed base rate tracker mortgage at 90 per cent LTV for new residential borrowers.
Additionally, it has added a pair of two-year fixes at 90 per cent LTV for existing residential customers only with a fee-free and £495 option, with rates of 5.29 per cent and 5.19 per cent respectively.
There is also a two and five-year fixed mortgage at 60 per cent LTV for existing buy-to-let borrowers with a £995 fee, with rates of 4.79 per cent and 4.31 per cent respectively.
