The rate war has carried on into the new year with Barclays launching the market’s cheapest 10-year fixed-rate deal.
The product is priced at 2.99 per cent, is available to 60 per cent LTV and has a £999 fee.
Comparison website Moneyfacts.co.uk says it is the lowest 10-year fix on record.
Trinity Financial product and communications manager Aaron Strutt says: “This is a fantastic rate that adds a whole new level to the ongoing rate war. A lot of borrowers feel that fixing their payments for 10 years is a bit too long but, at a rate of 2.99 per cent, this could certainly change things.”