The FINANCIAL — To welcome in the new year, Barclays launched the UK’s lowest ever ten year fixed rate mortgage at 2.99 per cent for up to 60 per cent LTV, previously available at 3.45 per cent, according to Barclays.
In addition, Barclays introducied a new 60 per cent LTV 2 year tracker at Barclays Bank Base Rate (BBBR) plus 0.89 per cent with the lowest follow on rate on offer of BBBR plus 1.99 per cent. It has also significantly reduced the rates on some of its 2 year and 5 year fixed products, providing further support to customers looking for a better mortgage deal.
“The New Year is traditionally a time to get your finances in order and plan for the year ahead. We are thrilled to be offering a UK first in the shape of our ten year 2.99 per cent fixed rate,” Andy Gray, Managing Director of Mortgages for Barclays, said.
“Our New Year deals cater for a range of needs from homeowners reviewing their mortgage to those hoping to get on the property ladder during 2015 – we are confident our rates will be extremely appealing.
“A homeowner with a £150,000 mortgage balance with a market average SVR of 4.4 per cent could achieve savings of £4,595 over 2 years when choosing Barclays 2 year tracker at BBBR+0.89 per cent,” he added.
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