Barclays has reduced its mortgage rates, with prices starting at 3.88%. 

The purchase-only premier two-year fixed at 60% loan-to-value (LTV) with a product fee of £899 has been cut from 3.96% to 3.88%. 

It has also lowered the price of its two-year fixed at 60% LTV with a product fee of £899 from 3.97% to 3.89%. 

The green home two-year fixed at 60% LTV with no fee has been cut from 4.10% to 3.99%, while the green home five-year fixed at 90% LTV with a product fee of £899 has been lowered from 4.57% to 4.32%. 

In the bank’s remortgage range, the premier two-year fixed at 60% LTV with a product fee of £999 has been reduced from 3.97% to 3.90%, while the two-year fixed at 60% LTV with a product fee of £999 has been cut from 3.98% to 3.91%. 

These products have a minimum loan of £5k and a maximum loan of £2m. 

Trinity Financial head of communications Aaron Strutt says: “Barclays undercutting Nationwide with cheaper property purchase two-year fixes now. Nationwide has a 3.90% two-year fix with a £1,499 fee, for mortgages between £300k and £5 million.”

“Barclays has a 3.88% two-year fix for higher earners and marginally more expensive 3.89% two-year rate for everyone else. Both have £899 fees.”

“Swap rates are still edging down again so after they went up a few weeks we may well see more rate cuts from the lenders pretty soon.”

Meanwhile, TSB has lowered rates on its residential products. 

The lender’s shared equity and shared ownership two-year fixed first-time buyer and home move rates have been cut up as much as 0.30%. 

The equivalent five-year fixed rates have also been reduced by up to 0.30%. 

In addition, three-year fixed FTB and home mover 0% to 90% LTV rates have been trimmed by up to 0.15% while two-year fixed FTB and home mover 75% to 90% LTV rates have been lowered by as much as 0.10%.