Barclays mortgage rates are reduced further.
Barclays mortgage rates have been reduced again by the lender who advises that it is passing on the benefit of its cheaper funding costs.
Mortgage funding costs have fallen in the last couple of months, and Barclays are taking the opportunity to use mortgage rate cuts to attract would-be buyers, who have been discouraged from lending because of its involvement in the fixing of the Libor.
Barclays is keen to regain its reputation after the recent scandal and is doing everything it can to promote a positive image through releasing competitive rates. Various fixed rates have been reduced by 0.30% including a new 2 year fix at 3.09% for 70% loan to value.
Low deposit would-be buyers have not been forgotten either and will also benefit from a rate cut of 0.20%. Barclays' NewBuy mortgage available for 95% loan to value is also to be reduced by 0.20% to 5.49%.
A spokesperson for Barclays has said that the Government's launch of the funding for lending scheme and a fall in swaps has led to cheaper mortgage borrowing. As the result of this Barclays has been able to cut its mortgage rates to allow home-owners access to cheaper lending.
If you are looking for a low rate mortgage offer you are advised to call Deal Direct, one of our advisers will search the market to find the right mortgage for you.
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