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Barclays makes a number of mortgage rate cuts

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  • 24/06/2024
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Barclays makes a number of mortgage rate cuts
Barclays has made reductions across its mortgage rates for select existing residential borrowers.

These changes will apply from 25 June to purchase-only products. 

This includes a two-year fix at 60% loan to value (LTV) with an £899 product fee. The rate has fallen from 4.99% to 4.68%. Meanwhile, the corresponding product for premier borrowers has reduced from 4.98% to 4.67%. 

The fee-free option at the same tier has had a rate cut of 0.25%, bringing it to 5.13%. 

At 75% LTV, the two-year fix with an £899 fee has gone down from 5.05% to 4.75%, while the fee-free alternative has reduced from 5.23% to 4.98%. 

At 85% LTV, the two-year fix with an £899 fee has been lowered from 5.14% to 4.93%, while the fee-free option has been cut from 5.33% to 5.15%. 

The fee-free two-year fixed rate at 90% LTV has been lowered from 5.76% to 5.48%. 

Across Barclays’ five-year fixed offering, the option at 60% LTV with an £899 fee has been reduced from 4.41% to 4.23%, while the deal for premier borrowers has been cut from 4.4% to 4.25%. 

At 75% LTV, the five-year fix with an £899 fee has been reduced from 4.53% to 4.38%, and the fee-free product has been cut from 4.67% to 4.52%. 

Reductions have also been made at 85% and 90% LTV, as well as across the lender’s Green Home Mortgages products at 75% and 90% LTV. 

Rates across its green mortgage offering now begin at 4.75%, down from 4.8%, for a five-year fix at 90% LTV with a £999 fee. 

Barclays follows the likes of Natwest and Coventry Building Society in reducing pricing across its mortgage range.

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