Barclays Bank has lowered six of its fixed rate mortgages by up to 0.3 percentage points, as well as launching a new product.
Its latest two-year package is 3.29 per cent and features no application fee for consumers buying a house at 70 per cent loan-to-value (LTV).
The reductions come in across its range and include a drop of 0.3 percentage points on the five year fixed rate at 70 per cent LTV with a rate of 3.99 per cent, the lowest five year deal Barclays has offered this year.
A two year fixed at 60 per cent LTV will drop from 3.29 per cent to 3.09 per cent and the five year (80 per cent LTV) will reduce by 0.20 percentage points to 4.29 per cent.
All come with a £999 application fee and £499 for customers who qualify for a Barclay’s loyalty mortgage.
The NewBuy package is cut from 5.89 per cent to 5.69 per cent and a drop of up to 0.30 percentage points on Future Fix, which combines the flexibility of a base rate tracker with the security of a fixed rate follow-on rate.
Head of mortgages Andy Gray said: “We have decided to introduce a market leading package for customers purchasing a house to help lower the upfront costs and get a really competitive rate.
“We have recently seen an improvement in the SWAP rates and so we’ve taken the opportunity to pass these benefits onto customers by reducing some of our more popular fixed rates to give them some great deals – including a five year rate below 4 per cent, the lowest we’ve offered this year.”
