Good news for anyone looking to buy or remortgage their home! Barclays has announced major cuts to their mortgage rates, with savings of up to 0.33% available.

Here’s what you need to know:

For those buying a new home:

• Five-year fixes: The biggest savings are on five-year fixed-rate mortgages, with rates now as low as 4.24% for those borrowing 75% of their property’s value.
• Two-year fixes: Two-year fixed rates have also been reduced, with options available from 4.49% depending on your deposit and whether you choose to pay a product fee.

Thinking of remortgaging?

• Lower monthly payments: Existing homeowners can also benefit from the rate cuts, with reductions of up to 0.33% available on two-year fixed-rate remortgages.
• New five-year fix: Barclays has also introduced a new five-year fixed-rate remortgage deal at 4.68% for those borrowing up to 75% of their property’s value. This deal comes with no product fee, saving you even more money.

Here’s a breakdown of some of the key rate changes:

• Two-year fixed-rate remortgage (60% LTV): Now from 4.67% with a £999 fee (Premier customers) or 4.70% with a £999 fee (standard).
• Five-year fixed-rate remortgage (60% LTV): Now from 4.31% with a £999 fee (Premier customers) or 4.36% with a £999 fee (standard).
• Five-year fixed-rate remortgage (75% LTV): Now from 4.50% with a £999 fee.

These rate cuts follow hot on the heels of reductions of up to 0.43% for existing Barclays customers last week, signalling a wider trend of falling mortgage rates.

Don’t miss out! With mortgage rates falling, it’s a great time to review your options. Speak to a mortgage broker to see how much you could save.