Mortgages 

Barclays cuts rates on residential mortgage range

Barclays cuts rates on residential mortgage range

Barclays has cut the rates on three of its residential mortgage products, as the lender committed to remaining competitive in the "vibrant" autumn market.

From tomorrow (7 September) the lender will cut the five-year fixed rate in its reward range from 1.94 per cent to 1.87 per cent at 60 per cent loan-to-value (LTV).

Available for purchase or remortgage, Barclays will reduce its two-year fixed rate from 1.92 per cent to 1.87 per cent, at 85 per cent LTV, and its five-year fixed rate from 1.95 per cent to 1.88 per cent at 60 per cent LTV - both with a £999 product fee.

A Barclays spokesperson said the remortgage market was expected to be particularly vibrant during the autumn and the reductions were intended to keep the lender’s product range "highly competitive" during this period.

Last week, Barclays also cut rates on eight of its buy-to-let products and increased its loan size cap on its residential 95 per cent LTV range.

rachel.addison@ft.com 

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