Barclays will cut more than 20 purchase and remortgage interest rates by up to 36 basis points on April 22.
The lender said these cuts have priced some of its products as market leaders, namely two-year fixes at 60% and 75% LTV.
Barclays’ current two-year purchase fix at 4.95% at 60% LTV with an £899 fee will be reduced to 4.6%.
The lender’s two-year fix of 5.15% without fees up to a 60% LTV is reduced to 4.79%, a reduction of 36 basis points.
Barclays is also reducing remortgage rates, such as reducing the two-year Great Escape fix by 25 basis points to 80% LTV, which is 5.61% and will be reduced to 5.36%.
Trinity Financial PR and communications director Aaron Strutt said: “Barclays has once again jumped to the top of the best buy tables by cutting its two-year fix from 4.95% to 4.60%, undercutting many of its competitors.
“Thankfully, more Barclays rates are starting at a four instead of a five because of these changes. The Barclays rates were starting to look a bit expensive so it’s good to see them coming back down.”
There are now more lenders cutting mortgage rates than increasing them, including Market Harborough Building Society, which announced today reductions up to 36bps.