Barclays has become the latest lender to cut rates across its selected residential, landlord, new lending and reward ranges by between 10 and 20 basis points. 

Highlights among the high street lender’s reductions include:  

• A two-year fixed-rate deal at 60% loan to value at 5.98%, with a £999 product fee, down by 15bps  
• A five-year fixed-rate loan at 60% LTV at 5.37%, with a £999 product fee, reduced by 15bps 
• A five-year reward fixed-rate mortgage at 75% LTV at 5.39%, with a £999 product fee, down by 15bps 

The reductions come as lenders make several rounds of rate cuts following the Bank of England’s base rate rise by 25bps to 5.25% earlier this month, its 14th consecutive rise taking it to the highest level for 15 years.          

The central bank is battling inflation, which fell to 6.8% in the year to July from 7.9% in June, but still remains almost three-and-a-half times higher than its 2% target.      

However, lenders say swap rates have fallen from their early July peak, allowing many of them to cut rates.       

Halifax, Nationwide and NatWest are among other major lenders to have cut their fixed-rate home loans over the last three weeks.