Barclays is introducing its lowest ever fixed mortgage rates from 5th February.
The bank is reducing rates across its entire fixed product portfolio, with the biggest cut, of 0.7 percentage points, being made in the Barclays 2 year and Lifetime Tracker Offset mortgages. These offers also come with a reduced fee of £999.
“We are seeing increasing demand from customers seeking short to long term stability and protection from future base rate rises. We’re excited to announce our lowest ever 2, 3, 5 and 10 years fixed mortgage range that will help first time buyers and those looking to remortgage; demonstrating our on-going commitment to providing homeowners with access to very competitive rates, ” Andy Gray, managing director of mortgages for Barclays, said.
Highlights among the short- to mid-term products are a two-year fix at 1.38 per cent with up to 65 per cent loan-to-value and an application fee of £1,499 and a five-year fixed rate of 2.29 per cent with 65 per cent LTV and a fee of £1,999.
The bank announced it was also planning to launch a new range of stepped fixed mortgages, allowing borrowers to make lower repayments in the first year of their fixed term. The range is especially aimed at movers and first-time buyers.
Changes to the Barclays fixed mortgage portfolio include:
|
Product |
LTV (%) |
Old Rate |
New Rate |
Application Fee |
Min Loan |
Max Loan |
| Fixed Rates | ||||||
|
2 year fixed |
65 |
1.69% |
1.38% |
£1,499 |
£5,000 |
£3,000,000 |
|
2 year fixed |
70 |
NEW |
1.75% |
£999 |
£5,000 |
£1,000,000 |
|
2 year fixed |
80 |
2.19% |
2.09% |
£999 |
£5,000 |
£1,000,000 |
|
2 year fixed |
85 |
2.63% |
2.49% |
£999 |
£5,000 |
£1,000,000 |
|
3 year fixed |
60 |
2.29% |
2.05% |
£999 |
£5,000 |
£1,000,000 |
|
3 year fixed |
70 |
2.55% |
2.34% |
£999 |
£5,000 |
£1,000,000 |
|
3 year fixed |
80 |
2.89% |
2.69% |
£999 |
£5,000 |
£1,000,000 |
|
5 year fixed |
60 |
2.44% |
2.34% |
£999 |
£5,000 |
£1,000,000 |
|
5 year fixed remortgage only |
60 |
2.39% |
2.29% |
£999 |
£5,000 |
£1,000,000 |
|
5 year fixed |
65 |
2.44% |
2.29% |
£1,999 |
£500,000 |
£3,000,000 |
|
5 year fixed |
70 |
2.95% |
2.75% |
£999 |
£5,000 |
£1,000,000 |
|
5 year fixed |
75 |
3.09% |
2.88% |
£999 |
£5,000 |
£1,000,000 |
|
5 year fixed |
90 |
4.38% |
4.05% |
£999 |
£5,000 |
£500,000 |
|
10 year fixed |
60 |
2.99% |
2.94% |
£999 |
£5,000 |
£1,000,000 |
|
10 year fixed |
75 |
3.99% |
3.49% |
£999 |
£5,000 |
£1,000,000 |
| Offset Rates | ||||||
|
2 year |
65 |
1.99% |
1.69% |
£1,999 |
£500,000 |
£3,000,000 |
|
2 year |
75 |
2.49% |
1.79% |
£999 |
£5,000 |
£1,000,000 |
|
Life Time |
75 |
2.99% |
2.29% |
£999 |
£5,000 |
£1,000,000 |
| Buy To Let Rates | ||||||
|
2 year fixed |
60 |
2.69% |
2.44% |
£1,999 |
£50,000 |
£1,000,000 |
|
2 year fixed |
75 |
3.19% |
2.89% |
£1,999 |
£50,000 |
£1,000,000 |
|
Tracker |
60 |
2.69% |
2.39% |
£1,499 |
£50,000 |
£1,000,000 |
|
Tracker |
75 |
3.19% |
2.79% |
£1,499 |
£50,000 |
£1,000,000 |
| Loyalty Fixed Rates | ||||||
|
2 year fixed |
80 |
2.19% |
2.09% |
£499 |
£5,000 |
£1,000,000 |
|
2 year fixed |
85 |
2.63% |
2.49% |
£499 |
£5,000 |
£1,000,000 |
| Help To Buy 2 | ||||||
|
2 year fixed |
95 |
4.49% |
3.99% |
£0 |
£5,000 |
£570,000 |
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