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Barclays makes cuts to residential fixed rates

Barclays is introducing changes to its residential fixed rates with new products launching tomorrow, 7 December.

The changes impact products across the purchase and remortgage ranges, and include reductions to the longer fixed rate offerings.

Within the purchase and remortgage range, the two-year fixed rate product with £1,999 product fee, 85 per cent LTV and a maximum loan of £2m has been cut 0.15 per cent, from 1.89 per cent to 1.74 per cent.

Another notable reduction is the 10-year fixed rate offering with £999 product fee, 60 per cent LTV, and a maximum loan of £1m, which has seen a 0.09 per cent decline, from 2.64 per cent to 2.55 per cent.

Purchase-only rates have also been cut: the two-year fix with £0 product fee, 95 per cent LTV, and a maximum loan of £400,000, with £1000 cashback, has had 0.20 per cent axed, from 3.75 per cent to 3.55 per cent.

Furthermore, the “homemover reward” three-year fix with £499 product fee, 75 per cent LTV, and a maximum loan £1m has been reduced of 0.10 per cent, from 1.88 per cent to 1.78 per cent.

This comes after Barclays announced a series of rate reductions and product changes amid a new residential remortgage product launch, unveiled at the back end of November.

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