Barclays reduces residential purchase and remortgage rates

Barclays is reducing rates across its five-year fixed rate residential purchase and remortgage range. 

Available from tomorrow, purchase reductions include five-year fixes at 60% LTV, down by 14bps to 4.20% with no fee and by 5bps to 4.11% with an £899 product fee.

At 75% LTV, five-year fixed rates have reduced to 4.22% with an £899 fee and 4.30% fee-free.

For remortgage, a Premier five-year fix now starts from 4.11% at 60% LTV, while the standard product is down to 4.12%, both with a £999 fee.

75% LTV rates have decreased to 4.25% with a £999 fee, while Great Escape products have reduced by up to 10bps, available at 4.26% up to 60% LTV and 4.33% up to 75% LTV.

Mark Arnold, head of mortgage and savings at Barclays, said: “Christmas can often be an expensive time of year and the changes we are making are designed to help customers save money, whether they are homebuyers or homemovers. Introducing these new rates, with many offering a £0 product switching fee, will benefit our customers and may help to ease the financial burden involved in buying and moving house.”