Barclays to cut some rates by 15bps – Mortgage Finance Gazette

It comes as TSB has revealed cuts of up to 25bps and HSBC has also revealed it will be lowering rates tomorrow.

The following Barclays existing customer reward rates will reduce:

• Two-year fixed up to 85% LTV with £999 fee will reduce by 15 bps from 5.22% to 5.07%
• Two-year fixed up to 85% LTV with no fee will drop by 15 bps 5.43% to 5.28%
• Five-year fixed up to 85% LTV with £999 fee will reduce by 15 bps 4.94% to 4.79%
• Five-year fixed up to 85% LTV with no fee will reduce by 15 bps  By 15 bps 5.03% to 4.88%

The lender is withdrawing the following residential existing customer purchase-only products:

• Two-year fixed up to 85% LTV with £899 fee at 4.73%
• Five-year fixed up to 75% LTV with no fee at 4.14%
• Five-year fixed up to 85% LTV with £899 fee at 4.37%

Last week Barclays joined other major lenders in offering the first sub-4% mortgage deals since March.

It launched a five-year fix at 3.83% for Premier customers or 3.84% for others, available for purchase only up to 60% LTV with an £899 fee.