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Barclays cuts rates by up to 0.55%

Barclays has reduced rates across its mortgage range by up to 0.55 per cent.

The cuts affect 40 per cent of the bank’s mortgage range. The new rates include a three-year fixed rate by 80 per cent loan-to-value which has been cut from 4.68 per cent to 4.13 per cent.

It has also cut 0.2 per cent to a two-year fixed rate at 80 per cent LTV to 3.59 per cent for customers who qualify for its loyalty mortgage and 3.68 per cent for all other customers.

Cuts of up to 0.5 per cent have also been made across the lender’s five-year fixed rate range.

Barclays is also making a number of rate increases to some of its 70 per cent LTV range.

Head of mortgage products Laoiseach Lynch says: “This is the seventh time in a row that we have made substantial cuts to our mortgages, including some of the biggest rate cuts this year. The mortgage market is highly competitive at the moment with providers cutting rates on a regular basis. This is great news for borrowers as they are getting access to some of the lowest ever rates.”

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