Barclays and Clydesdale Bank are cutting rates by as much as 26 basis points tomorrow, with a number of Barclays’ deals dropping below 4%.
In Barclays’ remortgage range, a two-year fixed rate at 75% LTV will reduce by 15bps from 4.14% to 3.99%, with a £999 fee.
Also for remortgage, a two-year fixed rate at 60% LTV will fall by 7bps from 3.91% to 3.84%, with a £999 fee and a five-year fix at the same LTV in the Great Escape range will reduce by 9bps from 4.09% to 4%, with no fee.
In the lenders Reward range for existing customers transferring onto a new product, a two-year fixed rate at 75% LTV will drop by 13bps from 4.12% to 3.99%, with a £999 fee.
In the same range, a five-year fix rate at 60% LTV will come down from 4.09% to 4%, with no fee or from 3.92% to 3.86% with a £999 fee.
Clydesdale’s changes
Selected two and five-year fixed rates for professionals up to 95% LTV will be reduced by up to 26bps.
The lender’s two-year discount offset rate at 80% LTV will fall by 25bps.
It is also cutting two and five-year rates in its core residential range, including product transfers, by up to 20 bps.
It will be lowering rates on some of its exclusives, including by up to 18bps on large loan deals.
Clydesdale is bringing out a number of new deals, including five-year fee offer buy-to-let rates for new customers from 4.99%.
It will also launch two-year fee offer exclusives for purchase and remortgage from 4.58%.
The reductions come amid a wave of rate cuts by lenders this week including Nationwide, Halifax, HSBC, Skipton, Leeds, CHL, Furness and others.
