Barclays relaunches sub-4% mortgage rate

Barclays has announced a new round of mortgage rate reductions and is now offering a product below 4%.

Available from tomorrow, a Premier two-year tracker rate will launch at 3.96%, available up to 75% LTV with a £999 product fee.

To qualify for Premier, customers need to have a current account with Barclays and either pay in a gross annual income of £75,000, or have at least £100,000 in savings, in eligible investments, or a mix of both with the bank.

The bank is also launching a Premier five-year fixed rate at 4.93%, available up to 80% LTV with no fee.

In its existing product range, a Premier two-year fix at 75% LTV is reducing to 4.71% and a five-year fix at 90% LTV is decreasing to 4.94%, both with an £899 fee.

In its remortgage range, a Premier two-year fix at 80% LTV will launch at 5.08% and a five-year fix up to 60% LTV is available at 4.80%, both with a £999 fee.

Elsewhere in its remortgage-only range, a selection of standard three and five-year fixed rates with a £999 product fee will see reductions of up to 0.13%.