Barclays has made rate reductions on its five-year fixed residential purchase and remortgage range, effective from 10 December.

The lender’s purchase only, five-year fixed rate at 60% loan-to-value (LTV), with no fee, will reduce by 0.14% to 4.20%.

The purchase only five-year fixed rate at 75% LTV also with no fee will be lowered from 4.38% to 4.30%.

Meanwhile, within the lender’s remortgage only range, the Great Escape five-year fixed rate at 60% LTV with no product fee will be cut from 4.36% to 4.26%.

The five-year fixed rate at 60% LTV with a fee of £999 will go down from 4.17% to 4.12%.

Barclays head of mortgage and savings Mark Arnold says: “Christmas can often be an expensive time of year and the changes we are making are designed to help customers save money, whether they are homebuyers or homemovers. Introducing these new rates, with many offering a £0 product switching fee, will benefit our customers and may help to ease the financial burden involved in buying and moving house.”