Barclays launches a 10 year fixed rate mortgage at 3.89%
Barclays has just announced the launch of a 10 year fixed rate mortgage. In addition to this new product, the lender has also cut various mortgage rates across its residential range by up to 1.1%.
Its new 10 year fixed rate mortgage is on offer at 3.89% with a £1,499 fee. While the rate is reasonably competitive against the wider market, the fee is not so good. It is therefore crucial before accepting any offer, that you consider ALL products available on a 'like for like' basis factoring in both rates and fees.
In addition to its new 10 year fixed rate mortgage Barclays has also cut its 5 year fixed rates for 70% loan to value. Rates are down from 3.39% to 2.99%. Fees are also lower than for the 10 year fix. Loyalty customers with a Barclays account are charged a reduced fee of £499, other borrowers are charged £999.
Rates have also been cut on the lender's trackers, a 2 year tracker mortgage is now on offer at between base plus 1.89% and base plus 1.68%. The fee charged is £499 for loyalty customers and £999 for other borrowers.
Offset mortgages are also down in cost, a 2 year deal is now on offer at base plus 2.49%, and a lifetime offset is on offer at base plus 2.89%.
If you are looking for fixed rate mortgage security call Deal Direct on 0800 048 8828 for a quote. Our advisers can find you the most affordable fixed rate mortgage available for your deposit level.
Call today for advice and a quote.
