Barclays lowest tracker rate mortgage - the loyalty lifetime tracker mortgage - is cut to just 1.98 percentage points above base (currently 2.48 per cent), a reduction of 0.31 percentage points, while the equivalent for customers who do not already bank with Barclays is reduced from 2.59 to 2.49 percentage points above base (currently 2.99 per cent).
Offset trackers in the loyalty range are also cut with the lowest rate now 2.29 percentage points above base (currently 2.79 per cent, a reduction of 0.20 percentage points).
The rates on five year fixed rate mortgages have also been reduced - by 0.15 percentage points to 4.29 per cent for the loyalty rate and by 0.3 percentage points to 4.49 per cent for the standard product.
Barclays cheapest two year fixed rate for customers who do not already bank with Barclays is reduced by 0.34 percentage points to 3.15 per cent. All of these rates are available for loans at up to 70 per cent loan to value.
Andy Gray, head of mortgages for Barclays, said:
"What we are seeing as we approach the final quarter of the year is a positive healthcheck for the mortgage market. Rates are competitive and Barclays is very much open for business and looking to lend.
"On top of these reductions in our most popular rates, we continue to offer a drop-lock facility to all new tracker and offset customers. Switch & Fix gives these customers the flexibility of a low tracker rate now and the option to switch to a fixed rate in the future when they need greater security, without incurring an early repayment charge."
Barclays loyalty mortgages were launched on 1st September and offer lower rates to Barclays current account customers. To qualify for a loyalty mortgage, customers need to have held any Barclays current account and credited a minimum of £800 in each of the previous three months at the time they apply for the mortgage.
