Barclays will be cutting more than 20 purchase and remortgage rates on 22 April by up to 36bps.
The lender said these cuts priced some of its products as market leaders, namely two-year fixes at 60% and 75% LTV.
Barclays’ current two-year purchase fix at 4.95% at 60% LTV with an £899 fee will be cut to 4.6%.
The lender’s 5.15% two-year fix with no fee to 60% LTV will be reduced to 4.79%, a reduction of 36bps.
Barclays is also cutting remortgage rates, such as a 25bps cut to its Great Escape two-year fix to 80% LTV, which is 5.61% and will be reduced to 5.36%.
Trinity Financial PR and communications director Aaron Strutt said: “Barclays has jumped to the top of the best buy tables again by lowering its two-year fix from 4.95% to 4.60% undercutting many of its competitors.
“Thankfully more of Barclays rates will start with a four rather than a five because of these changes. The Barclays rates were starting to look a bit expensive so it good to seem them come back down again.”
More lenders are now cutting mortgage rates than raising them, including Market Harborough Building Society, which today announced cuts of up to 36bps.
Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by finopulse.
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