Barclays has unveiled a series of reductions to its mortgage rates, with some products witnessing rate cuts by as much as 0.26%.
These changes, affecting a variety of products within the Residential Purchase and Reward ranges, will come into effect on Wednesday, 1st November.
Among the noteworthy adjustments, the 2-year fixed mortgage with an £899 product fee and 60% LTV, which previously stood at 5.36%, will now offer an interest rate of 5.10%.
Similarly, the same 2-year fixed product, but at 75% LTV, is set to decrease from 5.42% to 5.20%. Mortgages at 85% LTV with a 2-year term and an £899 fee will see their rates reduce from 5.92% to 5.72%.
Furthermore, several products are also experiencing a dip in their interest rates. For instance, the Premier 2-year fixed mortgage at 60% LTV with an £899 fee will reduce from 5.33% to 5.07%. Additionally, the 2-year fixed mortgage with a 75% LTV and a £0 product fee, previously at 5.60%, will be adjusted to 5.45%.
Barclays has also ensured its commitment to green initiatives. The Green Home 2-year fixed product, which stands at 75% LTV with a £0 fee, will decrease from 5.53% to 5.42%. Meanwhile, its 5-year counterpart with a 90% LTV and a £999 fee is set to reduce from 5.30% to 5.10%.
Furthermore, for those seeking high LTVs, the Mortgage Guarantee 2-year fixed product at 95% LTV and £0 fee will witness a reduction from 6.90% to 6.70%. The 5-year variant will also see a rate decrease from 7.12% to 6.92%.
For existing customers, the Reward range has been given attention. The EMC Reward 2-year fixed product at 60% LTV with a £999 fee will reduce from 5.25% to 5.08%. Meanwhile, the same product, but with a £0 fee, will have its rate lowered from 5.49% to 5.34%.
