Barclays has cut interest rates, including cuts below 4%.
The flagship two-year fixed product with a 60% LTV and a product fee of £899 has been reduced from 3.85% to 3.72%.
The bank has also reduced its two-year fixed LTV of 60% with an £899 fee from 3.86% to 3.73%.
Both have a minimum loan of £5,000 and a maximum loan of £2 million.
The two-year LTV product with a fixed term of 60% has been reduced from 4.06% to 3.93%. This also has a minimum loan of £5,000 and a maximum loan of £2 million.
In addition, the two-year interest rate fixed at 60% LTV without costs has been reduced from 3.96% to 3.83%.
It has also reduced the price of the five-year green home, set at 60% LTV with an £899 fee, from 3.91% to 3.88%.
The final cuts come afterwards NatWest cut its prices about new contracts, existing customers and additional loan options earlier this week.
Commenting on these rates, Aaron Strutt, product and communications manager at Trinity Financial, said: “Barclays undercuts NatWest’s last best buys and offers the cheapest two-year interest rate fix at 3.72% (apart from Lloyds overdraft mortgage at 3.67%).”
“You need a Barclays Premier account to get the rate, but borrowers can open one when they apply. They need to earn £75,000 to qualify or save £100,000 with Barclays.”
“It only takes one or two of the major lenders to cut their prices so that other large and smaller mortgage providers can follow suit. If the base rate falls next week or in December, we could have noticeably better rates to start the year.”
Elsewhere, Accord Mortgages has cut rates across both its residential and buy-to-let (BTL) product ranges.
The new range for private borrowers offers discounts of up to 0.23% on products up to 75% and 80% loan-to-value (LTV); with products reduced by 0.20% to 85% and 90% LTV.
For those with the lowest deposit, products with an LTV of up to 95% have also fallen by up to 0.13%.
The discounts also include the new exclusive product range for first-time buyers, as well as the lender’s innovative 5K Deposit Mortgage, which has been reduced by 0.12% to 5.34%.
For the BTL range, lender discounts include reductions of up to 0.20% up to a maximum of 80% LTV.
Products up to 65% are also down by up to 0.20%, while products with an LTV up to 75% will be up to 0.22% lower.
Highlights of the residential offering include:
• A five-year fixed rate of 4.09% (up from 4.32%) for homebuyers with an LTV up to 75%, with a £495 fee
• A two-year fix at 4.41% (up from 4.51%) exclusively for first-time buyers, up to 90% LTV, including a £495 fee and £500 cashback
• A free two-year fixed interest rate of 4.33% (was 4.51%) for those who refinance up to 80% LTV, including legal services on refinancing a mortgage.
Highlights of the BTL range:
• A five-year interest rate fix up to 80% LTV, available for home purchases, at 4.88% (from 5.06%), with a £995 fee and free standard valuation
• A two-year fixed rate up to 75% LTV, available to those remortgaging, at 4.18% (from 4.35%), with a £995 fee, free standard valuation and remortgage legal services
• And a two-year fix for a 60% LTV, available for home purchases, at 3.90% (from 4.00%), with a £1,995 fee and a free standard valuation.
Meanwhile, Together has implemented a series of tariff cuts across its core product range.
The changes apply to BTL products, commercial term products, first and second installment mortgages and consumer BTL products, with discounts of up to 20 basis points on selected fixed rate offers.
The lender’s initial two-year fixed rate has been reduced from 8.15% to 8.05%, while the five-year fixed option is now 7.39%, down from 7.59%.
Second rate rates have also been reduced: the two-year fixed rate has fallen to 8.54% and the five-year fixed rate has fallen to 7.90%.
Consumer BTL customers will benefit from a discount of up to 7.30% on the two-year fixed product and 7.20% on the five-year fixed product.
Commercial and semi-commercial interest rates have also been cut by 20 basis points across the board; with a fixed five-year commercial term interest rate that now starts at 8.24%.