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Barclays to cut rates with a purchase deal of 3.84% on market
Barclays will lower a range of residential purchase, remortgage and reward ranges from 8 August, with a deal of 3.84% on the market.
Within Barclays’ purchase range, its five-year fixed rate with an £899 fee at 60% loan to value (LTV) will fall from 4.04% to 3.84%.
The lender’s two-year fixed purchase rate at 60% LTV with no fee will decrease from 4.61% to 4.43%, while its two-year fixed purchase rate with an £899 fee at the same LTV tier will reduce from 4.42% to 4.22%.
In its remortgage range, Barclays’ five-year fixed rate with a £999 fee at 60% LTV will fall from 4.26% to 4.06%.
The firm’s five-year fixed rate at 75% LTV will decrease from 4.4% to 4.2%, and its two-year fixed rate at 60% LTV with a £999 fee will fall from 4.6% to 4.4%.
The move from the high street lender comes as HSBC introduced sub-4% mortgages earlier today, with deals from 3.92% for premier customers available and 3.95% for a five-year fixed rate at 60% LTV.
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Like Barclays’ sub-4% offering, NatWest is also offering a five-year fixed purchase rate deal at 3.97% deal directly to consumers, with some brokers concerned that it cuts them out of the process.