Barclays revamps mortgage range

It's new 2-year product has a rate of 2.15% at 70% LTV with a £499 application fee.

The lender has also reduced both its 2-year 70% LTV buy-to-let rates by 0.30% to 2.99%.

Andy Gray, managing director of mortgages for Barclays, said: "Confirming a fifth straight rate reduction is a strong demonstration of our commitment to providing home owners seeking certainty on their mortgage payments with access to a range of extremely competitive rates.

“We are anticipating demand for fixed rates to remain strong during the autumn months and we aim to help customers switching from an SVR of 4.4% on a mortgage balance of £150,000 to achieve some significant savings.

“Savings of over £3,600 could be achieved by opting for the new 60% LTV 2-year 1.94% fixed rate, with savings rising to over £5,800 achievable when switching to the new 60% LTV 5-year 2.99% fixed rate.”

Rate changes include a reduction in its 70% LTV 5-year fix from 3.49% to 3.25% with a £999 application fee, while its 80% LTV 2-year fix has been reduced from 2.75% to 2.69%.