Barclays removes fees and cuts its mortgage rates.
Barclays mortgage rates are reduced.
Barclays has announced that it has cut its mortgage rates and is making more fee free deals available.
Six of the lender's mortgages are to be reduced within its fixed rate range. Rates are to be reduced by 0.3% and a fee free deal is to be launched for up to 70% loan to value fixed for 2 years at 3.29%.
Compared against recent low rates offered by other lenders, 3.29% fixed for 2 years is not that competitive, West Bromwich offer a 2 year fix for 85% loan to value at 2.95%.
Barclays advise that rates have been cut across its entire range. The new deals on offer include a 5 year fixed rate deal for 70% LTV at 3.99%, a 5 year fix for 80% LTV at 4.29% and a 2 year fix for 65% LTV at 3.09%.
The new 70% LTV 2 year fixed deal at 3.29% is fee free, however all other deals have an application fee of £999. Those who qualify for a Barclay's Loyalty mortgage will be offered a £500 discount.
A spokesperson commented advising that Barclays has lowered its mortgage rates because of falling swap rates and is pleased to pass on the benefit of lower funding to its customers.
The Barclays NewBuy mortgage rate has also been reduced and is now on offer to low deposit property buyers at 5.69%
Call Deal Direct for a competitive mortgage quote.
