The reductions across the range include a drop of 0.30% on the5-year fixed rate at 70% LTV with a rate of 3.99% - the lowest 5-year deal Barclays has offered this year.
The 2-year fixed at 60% LTV will drop from 3.29% to 3.09% and the 5-year (80% LTV) will reduce by 0.20% to 4.29%. All come with a £999 application fee and £499 for customers who qualify for a Barclays loyalty mortgage.
Andy Gray, head of mortgages at Barclays, said: 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 5-year rate below 4%, the lowest we’ve offered this year.”
Elsewhere other changes focus on NewBuy which is cut from 5.89% to 5.69% and a drop of up to 0.30% on Future Fix. Future Fix combines the flexibility of a base rate tracker with the security of a fixed rate follow-on rate with the fixed element reducing to 3.99% (70% LTV) and 4.29% (80% LTV). The tracker rates remain unchanged.
Residential mortgages revert to a lifetime tracker of base +3.39% for mortgages up to 80% and base +3.74% above. The remainder of our fixed, tracker and offset range is maintained.
