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Barclays cuts fixed rates by up to 0.41%

Barclays has cut the rates on its range of Woolwich fixed rate mortgages by up to 0.41 per cent.

The lender says the cuts affect around 60 per cent of Woolwich’s range of fixed rate mortgages.

Its two-year fixed rate up to 75 per cent loan-to-value mortgage sees the largest fall, from 3.79 per cent to 3.38 per cent.

Cuts of up to 0.36 per cent will also take place at 80 and 85 per cent LTV on two and three-year fixed rates.

At 80 per cent LTV, its two-year fixed will reduce from 3.59 per cent to 3.38 per cent for customers who qualify for a Barclays loyalty mortgage and 3.48 per cent for all other customers.

Its three-year fixed rates will reduce from 4.13 per cent to 3.89 per cent. The 85 per cent LTV three-year fixed rate will fall from 4.49 per cent to 4.13 per cent.

Other rate reductions include a two-year fixed rate at 75 per cent, from 2.89 per cent to 2.79 per cent for customers who qualify for a Barclays loyalty mortgage and 2,87 per cent for all other customers.

Barclays head of mortgages Andy Gray says: “The mortgage market continues to be fiercely competitive which has been driven by falling swap rates. This is good news for borrowers as they have the opportunity to fix at a lower rate than they may currently be paying, to save them money now and protect them against future interest rate rises.”


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