Barclays relaunches sub-5% mortgage rates in new round of cuts

Barclays is reducing mortgage rates across a selection of purchase, remortgage and existing customer products by up to 0.30%.

Available from tomorrow, the latest round of cuts means Barclays is now offering sub-5% two and five-year fixed mortgage rates.

In its residential purchase range, a two-year fixed rate is decreasing from 5.15% to 4.95% at 60% LTV, with a five-year equivalent product down from 5.13% to 4.99%. Both products come with an £899 product fee.

Other two-year fixed rate reductions include 75% LTV products, which now start from 5.02% for the Premier product at 5.05% for the standard rate. 80% LTV two-year fixes have reduced to 5.15% with an £899 fee and 5.30% fee-free.

Elsewhere, a trio of Green Home products at 60% and 75% LTV will benefit from reductions of up to 25bps.

For remortgage, the lowest two-year fixed rate is 5.02% for a Premier product at 60% LTV, increasing to 5.05% for the standard rate. A Premier five-year fix at 60% LTV is down to 5.07%, with the standard rate at 5.10%.

For existing customers, a range of two and five-year fixed rates in the bank's Reward range will reduce by up to 22bps.