Barclays has announced that it will reduce rates across its help to buy range and high-LTV residential products.
According to Barclays, help-to-buy two-year fixed rates at 75% LTV will be reduced to 1.63% with a £749 fee and 1.88% fee-free. A five-year fixed rate is on offer at 2.13%. London help-to-buy products at 55% LTV now start from 1.81% for a two-year fixed rate with no fee and 1.90% for a five-year fix with a £749 fee.
The lender also revealed that 95% LTV five-year fixed rates will be cut to 3.59% and will include £1,000 cashback and 3.31% with no cashback. A two-year fixed rate at 95% LTV with no product fee will reduce from 2.86% to 2.77%.
Purchase and remortgage products at 90% LTV now start from 1.79% fixed for two-years, while three-year fixed rates start from 2.09% with a £999 fee ot 2.35% fee-free.
Barclays said, “We have reviewed our range and, following changes in the cost of funds, we are making a number of rate reductions across our residential and reward products.”