Move follows recent rate adjustments from Nationwide and HSBC
Barclays Mortgages has announced that it will lower rates on a range of products, effective tomorrow, July 26.
The high street lender’s 4.49% Premier two-year fixed product fee at 60% LTV will decrease to 4.39%, while its 4.52% two-year fixed with £899 product fee at 60% LTV will drop to 4.42%, with the rate of the fee-free option cut from 4.71% to 4.61%.
For 75% LTV, the 4.74% Premier two-year fixed product fee will decrease to 4.64%, and the 4.75% two-year fixed product fee will drop to 4.65%. The 4.98% two-year fixed fee-free product will reduce to 4.88%.
The 4.57% Premier three-year fixed £999 product fee at 60% LTV will decrease to 4.21%, while the one with a £899 product fee will drop from 4.08% to 4.03%. The 4.09% five-year fixed £899 product fee will reduce to 4.04%, while the 4.43% five-year fixed product fee at 75% LTV will fall to 4.23%. The 4.88% Green Home two-year fixed fee-free product at 75% LTV will decrease to 4.78%.
Barclays rate reduction announcement comes a couple of days after both Nationwide and HSBC repriced their fixed mortgage rates, indicating ongoing competitive strategies in the market.
For remortgages, the 4.67% Premier two-year fixed £999 product fee at 60% LTV will decrease to 4.57%. The 4.70% two-year fixed £999 product fee at 60% LTV will drop to 4.60%, and the 4.95% two-year fixed £999 product fee at 75% LTV will reduce to 4.85%.
Barclays, one of the UK’s largest mortgage lenders, will also reduce rates on its Great Escape two-year fixed fee-free product at 60% LTV from 5.07% to 4.97% and on its 75% LTV counterpart from 5.15% to 5.05%. The 4.31% Premier five-year fixed £999 product fee at 60% LTV will reduce to 4.21%. The 4.36% five-year fixed £999 product fee at 60% LTV will fall to 4.26%, and the 4.50% five-year fixed £999 product fee at 75% LTV will decrease to 4.40%. The 4.46% Great Escape five-year fixed fee-free product at 60% LTV will drop to 4.36%.
Under Barclays’ existing customer reward range, residential rates will also be slashed, with the 4.67% EMC Reward two-year fixed £999 product fee at 60% LTV decreasing to 4.57%, and the 4.75% EMC Reward two-year fixed £999 product fee at 75% LTV dropping to 4.65%.
The 4.31% EMC Reward five-year fixed £999 product fee at 60% LTV will reduce to 4.21%, while the 4.45% EMC Reward five-year fixed fee-free product at 60% LTV will fall to 4.36%. The 4.45% EMC Reward five-year fixed £999 product fee at 75% LTV will decrease to 4.40%, and the 4.68% EMC Reward five-year fixed fee-free product at 75% LTV will drop to 4.58%.
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