Barclays cuts mortgage rates
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Barclays has cut some of its mortgage interest rates of up to 0.34 percentage points.
Its loyalty lifetime tracker mortgage - is cut to 1.98 percentage points above base, currently 2.48%, a reduction of 0.31 percentage points, while the equivalent for customers who do not already bank with Barclays is reduced from 2.59 to 2.49 percentage points above base, currently 2.99%.
Offset trackers in the loyalty range are also cut with the lowest rate now 2.29 percentage points above base, currently 2.79%, a reduction of 0.20 percentage points.
The rates on five-year fixed rate mortgages have also been reduced - by 0.15 percentage points to 4.29% for the loyalty rate and by 0.3 percentage points to 4.49% for the standard product.
Barclays cheapest two-year fixed rate for customers who do not already bank with Barclays is reduced by 0.34 percentage points to 3.15%. All of these rates are available for loans at up to 70% LTV.
Andy Gray, head of mortgages for Barclays, says: “What we are seeing as we approach the final quarter of the year is a positive healthcheck for the mortgage market. Rates are competitive and Barclays is very much open for business and looking to lend.
“On top of these reductions in our most popular rates, we continue to offer a drop-lock facility to all new tracker and offset customers. Switch & Fix gives these customers the flexibility of a low tracker rate now and the option to switch to a fixed rate in the future when they need greater security, without incurring an early repayment charge.”
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