Barclays introduces sub-4% two-year fixes in latest round of cuts

Barclays has reduced rates across its residential mortgage range by up to 0.50%.

As a result, it has become the second high street lender to introduce sub-4% two-year fixed rates in recent weeks. Last month, Santander became the first Big Six lender to reintroduce a sub-4% two-year fixed rate this year.

As part of its latest reductions, Barclays is now offering a 3.96% Premier two-year fixed rate at 60% LTV with an £899 product fee, with a standard two-year fix available at 3.99%. A fee-free two-year fix at 60% LTV has also decreased to 4.35%.

At 90% LTV, two-year fixed rates have reduced by up to 25bps and now start from 4.47% with a £999 fee or 5.13% fee-free.

In the Bank's five-year fixed rate range, a Premier product at 90% LTV has reduced to 4.42% with a £999 fee.

Green Home two-year fixed rates have reduced by up to 25bps, with a two-year fix at 60% LTV decreasing to 4.25% with no fee. At 90% LTV, a two-year fix has reduced to 5.03% with no fee and a five-year fix is down to 4.37% with a £999 fee.

Barclays' joint borrower sole proprietor 'Springboard' mortgages have reduced by up to 0.50%, with a five-year fixed rate at 95% LTV down from 5.80% to 5.30%, and a 100% LTV mortgage decreasing to 5.54%, both fee-free.

In addition, the Bank has introduced two new residential purchase products. A Premier two-year fix at 90% LTV is available at 4.85% with an £899 fee, while a five-year fix at 60% LTV has launched at 3.92% with no product fee.

In Barclays' remortgage range, a two-year fix at 85% LTV has reduced by 50bps to 5.32% and a five-year fix is down to 4.93%, both with a £999 fee.