Good news for homebuyers and those looking to remortgage – Barclays is slashing rates on its fixed-rate mortgages!

From June 25th, you could bag yourself a cheaper deal on a two- or five-year fixed-rate mortgage. Some rates are dropping by an impressive 0.31%, which could mean significant savings on your monthly repayments.

Here’s a breakdown of some of the biggest cuts:

• Two-year fixed-rate deals:
  • The popular 4.98% rate for a two-year fix (with a £899 fee, 60% LTV, minimum loan of £5,000 and maximum loan of £2 million) is being reduced to a much more attractive 4.67%.
  • Another two-year fix at 4.99% (also with a £899 fee, 60% LTV, minimum loan of £5,000 and maximum loan of £2 million) is dropping to 4.68%.
  • For those with a 75% LTV, the two-year fix with an £899 fee (and the same loan limits) has been cut from 5.05% to 4.75%.
• Five-year fixed-rate deals:
  • The biggest reduction on a five-year deal is a welcome 0.18% off the 60% LTV mortgage (with a £899 fee, minimum loan of £5,000 and maximum loan of £2 million), taking the rate down to a competitive 4.23%.

These cuts could mean big savings for borrowers. It’s always a good idea to shop around and compare deals from different lenders to make sure you’re getting the best possible rate for your circumstances.