Barclays has confirmed from 4 March it is making further reductions to mortgage rates including one to 3.96%.
This rate (previously 3.99%) is offered on the lender’s Green Home five-year fixed, £899 product fee, 60% LTV.
Barclays Green Home mortgages are available to customers who are buying an energy-efficient new-build home directly from the builder or developer (energy efficiency rating of 81 or above, or is in energy efficiency bands A or B)).
Barclays is also reducing by as much as 0.48% in some cases – for instance a two -year fixed, £0 product fee, 90% LTV – will now be 4.93%.
The lender has also increased the maximum loan amount for 90% Loan-to-Value (LTV) purchases for houses and flats – the cap for houses has increased from £570k to £640k, while the cap for flats has increased from £275k to £310k.
Commenting on the rate changes Trinity Financial product and communications director Aaron Stutt said: “It is great to see Barclays lowering its five-year fix as the move does highlight that there is a real competition between the lenders to attract customers. We may well see other lenders lowering their rates this week.
“Although there does seem to be a catch with many of the lenders offering sub-4% rates where applicants either need to earn over £75,000, be borrowing over £300,000 or have a property with a high energy efficiency rating.”
