Good news for anyone looking to buy a home or remortgage – Barclays is launching new deals and cutting rates!

From 3rd September, Barclays is adding cheaper mortgages for both new and existing customers. Whether you’re a first-time buyer or looking to remortgage your current home, you could find a better deal.

Here’s what’s changing:

New Purchase Products:

• Two-year fixed rate: 4.55% with an 85% loan-to-value (LTV) and a £899 fee.
• Five-year fixed rate: 4.05% with a 75% LTV and no fee.
• Five-year fixed rate: 4.17% with an 85% LTV and a £899 fee.

Rate Cuts:

• Residential purchase mortgages: Rates will be reduced by up to 0.2% for LTVs ranging from 75% to 90%. For example, the five-year fixed rate at 75% LTV with an £899 fee will drop from 4.03% to 3.95%.
• Residential remortgage deals: Expect to see rate reductions of around 0.26%. For example, the five-year fixed rate ‘Great Escape’ deal at 75% LTV with no fee will decrease from 4.43% to 4.17%.
• Existing customer reward mortgages: Rates will be slashed by approximately 0.21%. For instance, the five-year fixed rate ‘Reward’ mortgage at 75% LTV with no fee will be reduced from 4.38% to 4.17%.

Sub-4% Deals:

Thanks to these cuts, Barclays will now offer several remortgage deals with interest rates below 4%! This includes a five-year fixed rate mortgage at 60% LTV with a £999 fee, which will drop from 4.06% to 3.93%.

This is the second time Barclays has lowered mortgage rates in just two weeks. Keep an eye out for these changes from 3rd September!