Barclays is making a slew of competitive new year mortgage rate cuts that are already being welcomed by brokers.

From 9 January the lender will be cutting its purchase homeloans by up to 8bps, remortgages by up to 5bps and EMC Reward deals by as much as 5bps.

On the purchase side, highlights include Barclays’ 4.08% five-year fixed to 80% LTV, with no product fee, which will be cut to 4%.

The lender is also making 6bps cuts on two two-year fixes with an £899 product fee. The 3.7% version, to 75% LTV, will be cut to 3.61%, while the 3.63% version to 60% LTV will be reduced to 3.57%.

Barclays is cutting its remortgage range by up to 5bps, in the case of its 3.81% five-year fix to 60% LTV, with a £999 fee, which will be cut to 3.76%.

Similarly, Barclays is trimming rates on its EMC Reward range.

Most notable is the 5bps cut to the lender’s 3.8% five-year fix to 60% LTV, with a £999 fee, which will be cut to 3.75%.

Trinity Financial product and communications director Aaron Strutt said: “Barclays is the latest lender to kick off the year by lowering its mortgage rates with the aim of giving Santander and Nationwide a bit more competition to top the best buy tables.

“These new rates are not quite market leaders, but they are not far off.

“Barclays is now offering six times salary mortgages with two-year fixes priced just over 3.5% with seems pretty generous when compared to the last few years.

“With UK Finance predicting 10,000 fewer property transactions in 2026 compared to 2025 and 1.8 million borrowers coming to the end of their fixed rates, competition between the lenders to issue more mortgages is likely to be even stronger this year. We can expect to see some more criteria easing and hopefully even cheaper fixed rates.”

Barclays last made rate cuts in mid-December.