Barclays launches its lowest ever fixed rates

Highlights include a 2 year fixed rate at 1.38% and a 5 year fixed rate at 2.29%

Rate cuts have also been made to Barclays Help-To-Buy 2 product which now offers a 3.99% two year fixed rate at 95% LTV.

The most significant changes have been made to Barclays 2 year and Lifetime Tracker Offset mortgages with a reduction of 0.70%, together with a £500 reduction in the fee reducing it to £999. Barclays has also reduced the rate on its core range 2 year fixed rate to 1.38% and now has a maximum loan size of £3,000,000.

Barclays has also revealed plans to introduce a range of Stepped Fixed products, offering home movers and first time buyers lower repayments in the first year of their fixed rate term.

Andy Gray, Managing Director of Mortgages for Barclays, said:

“We are seeing increasing demand from customers seeking short to long term stability and protection from future base rate rises. We’re excited to announce our lowest ever 2, 3, 5 and 10 years fixed mortgage range that will help first time buyers and those looking to remortgage; demonstrating our on-going commitment to providing homeowners with access to very competitive rates.

“The significant change of 0.70% reduction made to our 2 year and Lifetime Tracker Offset mortgages will have strong appeal for those wishing to reduce their mortgage term or their monthly mortgage repayments and still keep instant access to their savings.”