Barclays has cut mortgage rates across 22 products and by as much as 36bps, effective from today, in a move that positions it as offering market-leading rates, it claims.
This includes its two-year fixed products at 60% LTV and 75% LTV.
The majority of the rate cuts bring deals back below 5%. Of 16 residential purchase mortgages that are seeing rates cut, 13 return to less than 5% after climbing earlier this year.
It comes as Barclays Research maintain its confidence in the market. The company this week published a new paper in which it predicts a reduced risk of inflation and maintains its projection of the base rate holding at 3.75%, despite other economists warning of possible interest rate rises later this year.
It says its new modelling on UK data shows that when the labour market is loose – as it is now – energy supply shocks pass through in a significantly less persistent way to core inflation.
Residential purchase mortgage rate cuts
- 4.95% 2 Yr Fixed £899 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 4.60%
- 5.15% 2 Yr Fixed £0 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 4.79%
- 5.00% Premier 2 Yr Fixed £899 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 4.73%
- 5.01% 2 Yr Fixed £899 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 4.74%
- 5.21% 2 Yr Fixed £0 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 4.93%
- 5.02% 2 Yr Fixed £899 product fee, 80% LTV, Min loan £5k, Max loan £2m will decrease to 4.75%
- 5.27% 2 Yr Fixed £0 product fee, 80% LTV, Min loan £5k, Max loan £2m will decrease to 4.98%
- 5.00% 5 Yr Fixed £899 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 4.76%
- 5.08% 5 Yr Fixed £0 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 4.86%
- 5.02% 5 Yr Fixed £899 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 4.82%
- 5.10% 5 Yr Fixed £0 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 4.90%
- 5.11% 5 Yr Fixed £0 product fee, 80% LTV, Min loan £5k, Max loan £2m will decrease to 4.96%
- 5.05% Green Home 2 Yr Fixed £0 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 4.69%
- 5.11% Green Home 2 Yr Fixed £0 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 4.83%
- 4.90% Green Home 5 Yr Fixed £899 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 4.66%
- 4.92% Green Home 5 Yr Fixed £899 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 4.72%
Residential remortgage rate cuts
- 4.96% 2 Yr Fixed £999 product fee, 60% LTV, Min loan £5k, Max loan £2m will decrease to 4.83%
- 4.98% 2 Yr Fixed £999 product fee, 75% LTV, Min loan £5k, Max loan £2m will decrease to 4.90%
- 5.34% 2 Yr Fixed £999 product fee, 80% LTV, Min loan £5k, Max loan £2m will decrease to 5.11%
- 5.20% The Great Escape™ 2 Yr Fixed £0 product fee, 60% LTV, Min loan £50k, Max loan £2m will decrease to 5.01%
- 5.30% The Great Escape™ 2 Yr Fixed £0 product fee, 75% LTV, Min loan £50k, Max loan £2m will decrease to 5.07%
- 5.61% The Great Escape™ 2 Yr Fixed £0 product fee, 80% LTV, Min loan £50k, Max loan £2m will decrease to 5.36%
The Mortgage Works cuts BTL rates
The Mortgage Works today cut rates by up to 0.20 percentage points on selected buy-to-let and let-to-buy products across its new business mortgage range.
The new business rate cuts tomorrow include:
- Two-year fixed rate (remortgage only) buy-to-let mortgage at 3.74% (reduced by 0.05%) with a 3% fee, available up to 65% LTV with free valuation and free legal.
- Five-year fixed rate (remortgage only) buy-to-let mortgage at 4.37% (reduced by 0.15%) with a 3% fee, available up to 55% LTV with free valuation and free legal.
- Five-year fixed rate (remortgage only) buy-to-let mortgage at 4.99% (reduced by 0.20%) with a £1,495 fee, available up to 75% LTV with free valuation and free legal.