Barclays lowering rates again and launching sub-1.25% two-year fix for mortgages up to £2 million

by Aaron Strutt

Sep 27 2019

Barclays for Intermediaries is the latest lender to lower the price of its fixed-rate mortgages making the cost of borrowing evening cheaper.

In its latest change the bank has launched a sub-1.25% two-year fixed rate for borrowers with a £999 arrangement fee. Applicants will need a 40% deposit to qualify and the maximum loan is £2 million.

The bank has reduced the price of its two and five-year fixes at least four times over the last month as it fights to stay at the top of the best buy tables. It has lowered rates by 0.14% in its latest change, and this is on top of the 0.40% improvement on its large mortgage loans last week.

Aaron Strutt, product director at Trinity Financial, says: "A huge number of borrowers are coming to the end of their fixed and tracker rates and they are looking to switch deals. We are still speaking to a lot of clients who are moving up the property ladder.

"The Bank of England base rate has been kept at 0.75% but the Monetary Policy Committee has suggested that rates could go up or down depending on the ways the UK leaves the European Union." 

Call Trinity Financial on 020 7016 0790 to secure a mortgage or complete our mortgage questionnaire