Changes apply from 17 May, and cuts of up to 0.45% have been made to Barclays’ mortgage rates. 

This includes the remortgage-only product for premier borrowers at 60% loan to value (LTV), which has been cut from 4.76% to 4.31%. This deal is fixed for five years and has a £999 fee. 

The alternative for standard borrowers has been cut from 4.77% to 4.32%. 

The five-year fixed remortgage at 75% LTV with a £999 fee has been reduced from 4.84% to 4.45%. 

Changes have also been made to select Great Escape, standard and premier remortgages at 60% and 75% LTV. 

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Across its purchase deals, reductions have been made to select three- and five-year fixed deals, including the standard five-year fix at 60% LTV with a £899 fee, which has gone down from 4.47% to 4.34%. 

At 75% LTV, the five-year fix with a £899 fee has been cut from 4.73% to 4.44%, while the fee-free option has gone down from 4.9% to 4.58%. 

Reductions have also been made to purchase and remortgage deals, as well as Barclays’ reward options for existing customers. 

 

HSBC lowers mortgage rates 

HSBC has also announced reductions to mortgage rates, which are set to take effect from 17 May for new and existing borrowers.

This will apply to residential and buy-to-let (BTL) options for purchase, remortgage, homemoving, borrowing more, international, cashback and switching options. 

Adjustments have been made to select standard, fee-saver and premier exclusive products, fixed for two, three or five years. This will also apply to deals up between 60% and 90% LTV. 

HSBC has also pulled its 10-year fixed fee-saver and standard products for residential remortgage until further notice. 

These changes come a week after HSBC increased its existing borrower rates.