Barclays has announced “significant” rate reductions across its residential mortgage range, with several products dropping below 4%. Effective from the 11th April, these changes include cuts of up to 0.38%, with updates covering Premier, Green House, Springboard, and Mortgage Guarantee products.
The lender’s 60% LTV two-year fixed rate with a £899 product fee has reduced from 4.11% to 3.99%, and its 60% LTV five-year fixed rate with the same fee falls from 4.12% to 3.99%. Furthermore, Barclays has lowered its 95% LTV Mortgage Guarantee two-year fixed from 5.28% to 4.90% - with no product fee.
New products have also been introduced, including 85% LTV Green Home mortgages at 4.39% for a two-year fixed and 4.26% for five years. Both have a £899 product fee.
Earlier this month, Barclays became the latest lender to withdraw sub-4% mortgage rates following Santander’s withdrawal of its 3.99% five-year fixed rate. This was due to an increase in five-year market swap rates.
