Barclays cuts residential rates by up to 0.20%

Barclays is reducing rates across its residential purchase and remortgage ranges by up to 0.20%.

Available from tomorrow, the lowest two-year fixed rate is now 4.22% for a Premier product at 60% LTV. 75% LTV two-year fixes will reduce to 4.35%, 85% LTV rates to 4.84%, and 90% LTV rates to 5.19%.

A three-year fix at 60% LTV has also reduced by 20bps to 4.12%.

Five-year fixed rates at 60% LTV now start from 4.18%, with 75% LTV rates reducing to 4.27%, 85% LTV rates to 4.52%, and 90% LTV rates to 4.76%.

Green home, Mortgage Guarantee and Springboard products have also decreased by 0.10%.

In Barclays' remortgage range, two-year fixed rates now start from 4.26% at 60% LTV, 75% LTV rates from 4.52%, and 85% LTV rates from 5.29%.

Five-year remortgage rates have reduced to 4.16% at 60% LTV, 4.30% at 75% LTV and 5.07% at 85% LTV.

Great Escape two and five-year fixed rate remortgage products have also reduced by up to 20bps.

In its existing customer 'EMC Reward' range, one-year fixed rates have reduced by 10bps and now start from 5.13% at 60% LTV. Two-year fixes are also down by 0.10% and start from 4.20% at 60% LTV, 4.52% at 75% LTV and 5.09% at 85% LTV.

Five-year Reward products have reduced by up to 0.20%, starting from 4.12% at 60% LTV, 4.20% at 75% LTV, and 4.87% at 85% LTV. 10-year fixes are also down by 20bps and are available from 4.75% at 75% LTV.

Mark Arnold, head of mortgage and savings at Barclays, said: “I’m delighted we’re able to decrease core mortgage rates again, after what has been a very volatile period in the swap markets. 
 
“As we have done during the course of this year, when we see an opportunity in the swap markets we will act swiftly to pass on the benefit to our mortgage customers.”