Barclays trims cost of residential fixed-rate deals

Barclays has cut the cost of a number of fixed-rate deals in its residential and reward ranges.

These reductions apply to both purchase and remortgages, with the cuts of up to 0.07 per cent.

The reductions include a 0.7 per cent cut to its two-year fixed-rate “great escape” mortgage. This will now charge a rate of 1.94 per cent at 75 per cent LTV.

In the same range its two-year fix at 60 per cent has been reduced by 0.06 per cent to 1.9 per cent. While its five-year fix has been reduced by 0.05 per cent to 2.15 per cent (again at 60 per cent LTV).

Barclays has also made reductions to its green home mortgage range. The two-year fix in this range will now charge a rate of 1.79 per cent, a reduction of 0.05 per cent. This is available up to 90 per cent LTV and comes with a £999 product fee.

The five-year fixed-rate option in this range has been reduced by 0.06 per cent to 2.28 per cent. This is also available up to 90 per cent LTV.

Barclays has also reduced rates in its ‘EMC Reward’ range. The biggest cuts are to its one-year and five-year fixed-rate deals, both of which have been reduced by 0.04 per cent.

This means its one-year fix is now priced at 1.92 per cent. This has no product fee and is available up to75 per cent LTV.

Its five-year fix is priced at 2.15 per cent, again with no product fee. This rate is available up to 60 per cent LTV.

The new rates will be available from Wednesday 18 July.

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